Abu Dhabi Investment Authority (ADIA), a Gulf sovereign fund, is reportedly considering an additional investment of $600 million in Reliance Retail Limited (RRL), following the likes of Qatar Investment Authority (QIA). ADIA already owns a 1.20% stake in Reliance Retail Ventures Limited (RRVL) acquired in October 2020 for $751 million. RRVL raised $7.5 billion in October 2020 by selling a 10.09% stake to investors, including Saudi PIF, Mubadala, GIC, Silverlake, TPG, GA, and others. This potential investment comes at higher valuations, with RRVL recently ranking among the top four Indian companies by market cap. Reliance Retail’s current valuation is estimated at around $100 billion, making it the 12th largest retail business globally, with impressive financial performance in FY23, posting revenue of Rs 2,60,364 crore, a YoY growth of 30%.
Abu Dhabi Investment Authority (ADIA) Contemplates $600 Million Investment Boost in Reliance Retail
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