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Reliance Retail receives Rs 4967 crore investment from Abu Dhabi Investment arm

Oct 9, 2023

By: BlinkX Research Team

After an affiliate of the Abu Dhabi Investment Authority (ADIA) invested Rs 4,966.80 crore in Reliance Retail Ventures Ltd (RRVL), Reliance Industries (RIL) shares came under scrutiny on October 9. On a fully diluted basis, this investment will result in a 0.59 percent equity stake in RRVL.

Reliance Retail is valued at Rs 8.381 lakh crore in pre-money equity as of its most recent investment from ADIA. The transaction must receive the required approvals. RRVL received financial advice from Morgan Stanley, legal assistance from Cyril Amarchand Mangaldas and Davis Polk & Wardwell, and financial advice from Morgan Stanley.

Reliance, which is led by Mukesh Ambani, established an internal goal to raise $3.5 billion at the time of the transaction.

The sovereign wealth funds of Singapore, Abu Dhabi, and Saudi Arabia, as well as Reliance Retail, were reportedly in discussions for a combined investment of about $1.5 billion, according to earlier reports.

In August, Ambani had claimed that "several marquee global strategic and financial investors have shown strong interest" in his business.