After a slew of investments in Reliance Jio, the Mukesh Ambani-led Reliance group is now turning Reliance Retail into its new investment destination—with Emirati holding company Mubadala investing Rs 6,247.5 crore into Reliance Retail Ventures Limited (RRVL) for a 1.40 per cent equity stake.
The investment, after the infusion of Rs 9,375 crore by Silver Lake and co-investors, values Reliance Retail at Rs 4,285 lakh crore.
This is Mubadala’s second significant investment into an RIL subsidiary, having put in $1.2 billion (Rs 9,093.6 crore) into Reliance Jio in June.
Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said “I am happy to welcome Mubadala as a valued investor in Reliance Retail Ventures. We value the partnership with a knowledge-rich organization like Mubadala and acknowledge their confidence in our mission to strengthen the core of India’s retail sector—the millions of small retailers, merchants and shopkeepers—through the power of technology. Mubadala’s investment and guidance will be an invaluable support in this journey.”
Khaldoon Al Mubarak, Managing Director and Group CEO, Mubadala Investment Company, said: "We are pleased to deepen our relationship with Reliance Industries through this investment in Reliance Retail Ventures. Their vision is the inclusive transformation of India’s consumer economy through the power of digitization, creating opportunities and market access for millions of small businesses across the country, and we are committed to supporting the company’s continuing development."