Reliance Retail Ventures Limited (RRVL) announced on 23 August 2023 that the Qatar Investment Authority (QIA) will be buying a stake of 0.99% at Indian Rupees 8,278 crore, which equates to more than 1 billion US dollars, into RRVL as a wholly-owned subsidiary.

This investment values RRVL at a pre-money equity value of Indian Rupees 8.278 lakh crore.

Reliance Retail Ventures Limited is one of India's largest retail businesses, with a customer base of over 267 million people. The retail business is operated through over 18,500 stores and digital commerce platforms that offer consumer products like groceries, electronics, fashion, lifestyle & others.

QIA’s investment will translate into a minority equity stake of 0.99% in RRVL on a fully-diluted basis.

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Source: Reliance Retail Ventures Limited (RRVL)
Cover image credit: CNBCTV

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Fareeha Imtiaz

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