ADIA to invest Rs 4,966.80 cr in Mukesh Ambani's Reliance Retail Ventures
Mumbai: Abu Dhabi Investment Authority (ADIA) through its wholly-owned subsidiary is set to inject Rs 4,966.80 crore into Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries Limited, media reported.
With this investment, RRVL is assessed at a pre-investment equity value of Rs 8.381 lakh crore, positioning it among the top four companies in the country by equity value.
ADIA will get a 0.59 percent equity share in RRVL on a fully-diluted basis.
RRVL, along with its subsidiaries and affiliates, caters to 267 million loyalty customers through a comprehensive omnichannel network comprising over 18,500 stores and digital commerce platforms.
The completion of this transaction is subject to obtaining customary approvals. RRVL received financial advisory services from Morgan Stanley, while Cyril Amarchand Mangaldas and Davis Polk & Wardwell served as legal counsel.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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