Qatar Investment Authority commits Rs 8,278 crore investment in Reliance Retail Venturestext_fields
New Delhi: Qatar Investment Authority (QIA) has announced its plan to invest Rs 8,278 crore into Reliance Retail Ventures Limited (RRVL), the retail arm of Reliance Industries.
Through a wholly-owned subsidiary, QIA's investment will result in a minority equity stake of 0.99% in RRVL, valuing the company at Rs 8.278 lakh crore before the investment. RRVL operates India's largest retail business, encompassing over 18,500 stores through its subsidiaries and associates.
The move signifies QIA's interest in tapping into India's burgeoning retail market and supporting innovative, high-growth companies.
Isha Mukesh Ambani, Director of RRVL, expressed her delight in welcoming QIA as an investor. She highlighted the benefits of QIA's global experience and value creation track record, emphasising their shared goal of transforming India's retail sector.
Mansoor Ebrahim Al-Mahmoud, CEO of QIA, echoed this sentiment, affirming the strategic alignment of QIA's investment with RRVL's impressive growth trajectory and visionary approach.
RRVL, known for its aggressive expansion strategy, has been acquiring companies and securing franchise rights for popular international brands to strengthen its presence in the Indian market. The company had previously raised significant capital through private equity funds in 2020, attesting to its prominence in the sector. The investment by QIA further reinforces confidence in RRVL's business model and execution capabilities.
Reliance Retail Ventures Limited's continuous growth strategy and its partnership with Qatar Investment Authority mark a significant milestone in the evolution of India's retail landscape.