Companies

Reliance Retail raises ₹5,512.50 crore from ADIA subsidiary

Rajesh Kurup Mumbai | Updated on October 06, 2020 Published on October 06, 2020

Reliance Retail Ventures Ltd (RRVL), a subsidiary of Reliance Industries Ltd (RIL), has raised ₹5,512.50 crore from a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA) in lieu of a 1.20 per cent equity stake.

The investment values RRVL at a pre-money equity value of ₹4.285 lakh crore. 

Also read: TPG will invest ₹ 1,837.5 crore into Reliance Retail

With this investment, RRVL has raised a total of ₹37,710 crore from leading global investors including Silver Lake, KKR & Co, General Atlantic, Mubadala, GIC, TPG and ADIA in less than four weeks.

Read: KKR puts ₹5,550 cr in RIL retail arm; are TPG, ADIA coming in?

“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,” RIL Chairman and Managing Director Mukesh Ambani said.

Read the story: Reliance Retail raises Rs 5,512.5 crore from GIC

Morgan Stanley was the financial advisor to Reliance Retail and Cyril Amarchand Mangaldas and Davis Polk & Wardwell were the legal counsels.

Also read: Reliance Retail raises second investment in a single day

“Reliance Retail has rapidly established itself as one of the leading retail businesses in India and, by leveraging both its physical and digital supply chains, is strongly positioned for further growth. This investment is consistent with our strategy of investing in market leading businesses in Asia linked to the region’s consumption-driven growth and rapid technological advancement,” Hamad Shahwan Aldhaheri, Executive Director of the Private Equities Department at ADIA said.

Also Read: Abu Dhabi-based Mubadala picks 1.4% in Reliance Retail for ₹6,247.5 crore

Reliance Retail Ltd, a subsidiary of RRVL, generates about 640 million footfalls across its 12,000 stores nationwide.

 

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Published on October 06, 2020
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