Reliance Retail Ventures Limited (RRVL) stated that the Qatar Investment Authority (QIA) will invest £827.8 mn in RRVL, a subsidiary of Reliance Industries Limited, through a wholly-owned subsidiary. With this investment, RRVL is valued at £82.78 billion in pre-money equity. On a fully diluted basis, QIA's investment will result in a 0.99% minority equity position in RRVL.
The latest round of funding for RRVL in 2020 totaled £4.72 billion from a variety of international investors, with a pre-money equity value of £42.1 billion. Isha Ambani, Director, Reliance Retail Ventures Limited, said, “We are delighted to welcome QIA as an investor in RRVL We look forward to benefitting from QIA’s global experience and strong track record of value creation as we further develop RRVL into a world class institution, driving transformation of the Indian retail sector. The investment by QIA is a strong endorsement of a positive outlook towards Indian economy and Reliance’s retail business model, strategy and execution capabilities."
Mansoor Ebrahim Al-Mahmoud, CEO, QIA, said, “QIA is committed to supporting innovative companies with high-growth potential in India’s fast growing retail market. We are looking forward to RRVL, with its strong vision and impressive growth trajectory, joining our growing and diverse portfolio of investments in India."