ADIA, Reliance Retail

ADIA to invest Rs 5512 crore in Reliance Retail

Reliance Retail Ventures Ltd, owned by industrialist Mukesh Ambani, raised Rs 5,512.50 crore from the Abu Dhabi Investment Authority (ADIA) on Tuesday. So far, the company has raised Rs 37,710 crore in less than four weeks. Reliance Retail Ventures (RVL) said in a statement, "ADIA's investment is equal to 1.20 per cent stake." The value of RRVL (pre money equity value) in this investment is estimated at Rs 4.285 lakh crore.

"With this investment, RVL has raised Rs 37,710 crore from KKR, General Atlantic, Mubadla, GIC, TPG and ADIA in less than four weeks," the statement said. Reliance Retail Ltd, a subsidiary of RRVL is operating India's largest and fastest growing retail business. This includes supermarkets, consumer electronics shops, wholesale markets, fashion, online grocery stores, Jio Mart. Reliance Retail Limited has more than 12 thousand shops spread across the country.