Abu Dhabi’s Mubadala eyes up to $1b stake in Reliance Retail

Abu Dhabi’s Mubadala eyes up to $1b stake in Reliance Retail

Abu Dhabi state fund Mubadala Investment Co is reportedly in advanced talks to invest up to $1 billion in the retail division of India's Reliance Industries, according to Indian media reports.

The Abu Dhabi wealth fund's latest foray into India's attractive investment landscape comes weeks after it invested around $1.2 billion in Jio Platforms, a digital service company controlled by Asia's richest man Mukesh Ambani's Reliance Group.

While Jio has amassed $20 billion in investments over the past few months, another Indian conglomerate Tata Group is reportedly in talks with multinational retail giant Walmart for a potential investment in the latter's upcoming retail 'super app' in a deal worth $25 billion, the largest single bid so far in India's buoyant retail sector.

Reports quoting