Qatar to invest $1bn in Mukesh Ambani’s Reliance Retail

Qatar to invest $1bn in Mukesh Ambani’s Reliance Retail

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Qatar’s sovereign wealth fund will pour in $1bn for a one per cent stake in Indian billionaire Mukesh Ambani’s Reliance Retail Ventures, according to a report by Bloomberg.

The cost of acquisition puts the valuation of Reliance Retail at $100bn – nearly double from its last funding round in 2020.

It has previously raised about $5.72bn from investors, such as the Saudi Public Investment Fund and the UAE’s Mubadala in 2020.

Mansoor Ebrahim Al-Mahmoud, CEO, QIA, said that he was committed to supporting innovative companies with high-growth potential in India’s fast-growing retail market. “We are looking forward to Reliance Retail Ventures, with its strong vision and impressive growth trajectory, joining our growing and diverse portfolio of investments in India.”

Reliance Retail’s brand expansion

Reliance Retail has under its umbrella, the group’s consumer goods business and international partnerships operations.

The retail arm is headed by Ambani’s daughter Isha. She has recently partnered with global brands such as 7-Eleven, Pret A Manger, and Tiffany to launch their business in India.

Isha Ambani, the director of the company said her company was looking forward to benefitting from QIA’s global experience and strong track record of value creation, as RIL further develops its retail arm into a