August 23, 2023
admin
QIA to pick 1% stake in Reliance Retail Ventures
Reliance Industries Ltd on Wednesday announced that Qatar Investment Authority (QIA) will invest Rs 8,278 crore in its subsidiary Reliance Retail Ventures.
This investment values Reliance Retail Ventures at a pre-money equity value of Rs 8.28 lakh crore. The investment by the Qatari fund will translate into a nearly 1% stake in the retail major.
Last month, news reports emerged that the Qatari fund was looking at investing close to $1 billion in Reliance Retail. The $100 billion valuation pegged by QIA for Reliance Retail makes it bigger than global majors such as Tesco, Carrefour, Uniqlo and JD.com.
In 2020, Reliance Retail Ventures raised Rs 47,265 crore by selling a stake to various global investors. Then, it was done at a pre-money equity value of Rs 4.21 lakh crore.
The growth and expansion of the business has nearly doubled the valuation of the retail behemoth. The retail business has become the largest part of RIL’s SOTP (sum-of-the-parts) valuation.
Reliance Retail operates India’s largest and fastest growing retail business, with an integrated omnichannel network of over 18,500 stores and digital commerce platforms across grocery, consumer electronics, fashion & lifestyle, and pharmaceutical consumption baskets.
“We look forward to benefiting from QIA’s global experience and strong track record of value creation, as we further develop Reliance Retail Ventures into a world class institution, driving transformation of the Indian retail sector,” Isha Mukesh Ambani, Director, Reliance Retail Ventures, was quoted as saying in the release.
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