Abu Dhabi Investment Authority to Invest ₹4,966.80 Crore in Reliance Retail Ventures

Newzdaddy Business Updates

 

Mumbai, October 6, 2023: Reliance Retail Ventures Limited (RRVL) has some exciting news to share. A company called the Abu Dhabi Investment Authority (ADIA), which is like a big investor, is going to put ₹4,966.80 crore into RRVL. This is a part of Reliance Industries Limited. This investment makes RRVL worth ₹8.381 lakh crore before adding the money, and that’s a lot! In fact, it makes RRVL one of the top four companies in India in terms of how much they’re worth.

ADIA’s investment will give them a share of 0.59% in RRVL, which means they’ll own a little piece of it.

Also Read: Reliance Brands to Take Over Superdry in India

Now, RRVL is a company that runs India’s biggest and most successful retail business. They have lots of loyal customers, about 267 million of them! They sell all sorts of things like groceries, electronics, clothes, and medicine. They have more than 18,500 stores, and they also do business online.

RRVL’s big goal is to make Indian shopping better for everyone. They want to help small businesses and work with other companies to make shopping great for Indian people. They’re also helping small stores go digital, which means using computers and technology to sell things. This way, these small stores can serve their customers even better.

Isha Mukesh Ambani, who is in charge of RRVL, said they’re happy to have ADIA as an investor. She thinks ADIA’s experience will help RRVL make shopping in India even better.

Also Read: Big Fashion Sale Alert: AJIO’s All-Stars Event Brings Exclusive Deals and Prizes

Hamad Shahwan Aldhaheri from ADIA said they’re impressed with how well RRVL is doing in a changing market. They’re excited to work with the Reliance Group and be a part of India’s growing shopping industry.

Of course, this deal needs to get some normal approvals before it can happen.

Morgan Stanley helped RRVL with money stuff, and some law firms named Cyril Amarchand Mangaldas and Davis Polk & Wardwell gave them legal advice.