Reliance Retail Ventures Limited (RRVL) recently announced that the Qatar Investment Authority (QIA) is set to invest Rs. 8,278 crore (equivalent to US$ 998 million) in RRVL, a subsidiary of Reliance Industries Limited. This substantial investment is facilitated through a wholly owned QIA subsidiary. The valuation of RRVL, as a result of this investment, stands at Rs. 8.278 lakh crore (US$ 100.12 billion) in pre-money equity. In terms of fully diluted ownership, QIA’s investment will secure a 0.99% minority equity position in RRVL.
Contrasting this investment, RRVL’s earlier fund-raising round in 2020 amassed Rs. 47,265 crore (US$ 5.71 billion) from global investors. This funding took place at a pre-money equity valuation of Rs. 4.21 lakh crore (US$ 50.92 billion).
Ms. Isha Mukesh Ambani, Director of Reliance Retail Ventures Limited, expressed satisfaction at QIA’s entry as an investor, considering it a strong endorsement of both India’s economic potential and Reliance’s retail business model, strategy, and execution capabilities.
Mr. Mansoor Ebrahim Al-Mahmoud, CEO of QIA, highlighted the commitment to supporting innovative businesses with significant growth potential in India’s rapidly expanding retail market.
RRVL manages India’s most extensive, rapidly expanding, and highly profitable retail enterprise through its affiliated subsidiaries and associates. With an integrated omni channel network encompassing over 18,500 stores and digital commerce platforms spanning grocery, consumer electronics, fashion & lifestyle, and pharmaceutical segments, RRVL stands as a prominent player in the retail landscape.
