ADIA to invest $751m in Indian Reliance Industries’ unit

  • Date: 07-Oct-2020
  • Source: Mubasher
  • Sector:Retail
  • Country:UAE
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ADIA to invest $751m in Indian Reliance Industries’ unit

ADIA's investment values RRLV at pre-money equity of 4.29 trillion rupees

07 October 2020 09:38 AM

UAE - Mubasher: The Abu Dhabi Investment Authority (ADIA), a sovereign wealth fund owned by Abu Dhabi, will invest around 55.13 billion rupees ($751.13 million) in Reliance Industries' retail arm, Reliance Retail Ventures Limited (RRLV).

ADIA's investment values RRLV at pre-money equity of 4.29 trillion rupees, according to a recent press release by Reliance Industries, controlled by Asia's richest man Mukesh Ambani.

In exchange, ADIA will own a 1.20% equity share in Reliance Retail on a fully diluted basis.

It is noteworthy to mention that in a recent period, Mubadala Investment Company (Mubadala) has held advanced talks to invest $1 billion in the retail division of India's Reliance Industries.