Abu Dhabi, 2 October 2020 – A subsidiary of India’s Reliance Industries Limited (Reliance Industries) Reliance Retail Ventures Limited (RRVL), will get an investment of USD 843 million from Mubadala Investment Company (Mubadala), the Abu Dhabi-based sovereign investor at a pre-money equity value of ₹ 4.285 lakh crore. Mubadala’s investment will translate into a 1.40% equity stake in RRVL on a fully diluted basis.
This marks the second significant investment by Mubadala in a Reliance Industries subsidiary after the US $1.2 billion investment in Jio Platforms announced earlier this year.
Reliance Retail Limited, a subsidiary of RRVL, runs India’s largest, fastest growing and most profitable retail business serving close to 640 million footfalls across its ~12,000 stores nationally. Reliance Retail’s vision is to galvanize the Indian retail sector through an inclusive strategy serving millions of customers by empowering millions of farmers and micro, small and medium enterprises (MSMEs) and working closely with global and domestic companies as a preferred partner, to deliver immense benefits to Indian society, while protecting and generating employment for millions of Indians. Reliance Retail, through its New Commerce strategy, has started a transformational digitalization of small and unorganised merchants and is committed to expanding the network to over 20 million of these merchants. This will enable the merchants to use technology tools and an efficient supply chain infrastructure to deliver a superior value proposition to their own customers.
“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,” commented Khaldoon Al Mubarak, Managing Director and Group CEO, Mubadala Investment Company.
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.”
The transaction is subject to regulatory and other customary approvals.
News Source: www.mubadala.com
For More Information, You can visit the website: www.mubadala.com
——
Disclaimer: The content of the above information is sourced (or provided), in entirety or in parts from an external source and the content may or may not be edited. The Wealth Today shall not be held liable for damages arising out of any action taken with respect to the use or consumption of information or service published above or anywhere else on the website. This website does not guarantee the accuracy, views, opinions or any promises expressed in the above news.
If you find any errors or discrepancies in the above information, you can write to us at editor@thewealth.today.
——
