For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Reliance Retail To Receive Rs 5,512.50 Crore Investment From ADIA

By Staff
|

On Tuesday, Reliance Industries Limited (RIL) in a stock exchange filing after market hours said that a wholly-owned subsidiary of the Abu Dhabi Investment Authority ("ADIA") will invest Rs 5,512.50 crore into Reliance Retail Ventures Limited, its subsidiary.

"ADIA's investment will translate into a 1.20% equity stake in RRVL on a fully diluted basis," the statement said.

Reliance Retail To Receive Rs 5,512.50 Crore Investment From ADIA
 

With this investment, Reliance Retail has raised Rs 37,710 crore from leading global investors including Silver Lake, KKR, General Atlantic, Mubadala, GIC, TPG and ADIA in less than four weeks.

ADIA is a globally-diversified investment institution that prudently invests funds on behalf of the Government of Abu Dhabi through a strategy focused on long-term value creation.

"We are delighted with ADIA's current investment and continued support and hope to benefit from its strong track record of over four decades of value creation globally. The investment by ADIA is a further endorsement of Reliance Retail's performance and potential and the inclusive and transformational New Commerce business model that it is rolling out," said Mukesh Ambani, chairman and MD of RIL.

The transaction is subject to regulatory and other customary approvals.

Morgan Stanley acted as financial advisor to Reliance Retail and Cyril Amarchand Mangaldas and Davis Polk & Wardwell acted as legal counsels.

Shares of RIL closed almost flat at Rs 2,213 on Tuesday.

Read more about: reliance retail ril
Story first published: Tuesday, October 6, 2020, 20:04 [IST]
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X