Abu Dhabi's Mubadala to invest over Rs 6,247 cr in Reliance Retail


Mumbai, Oct 1 (IANS): Reliance Industries on Thursday said that Abu Dhabi-based sovereign investor Mubadala Investment Company will invest Rs 6,247.5 crore into Reliance Retail Ventures.

Mubadala's investment will translate into a 1.40 per cent equity stake in RRVL on a fully diluted basis.

This is the second significant investment by Mubadala in a Reliance Industries subsidiary after the $1.2 billion investment in Jio Platforms announced earlier this year.

The investment values Reliance Retail at a pre-money equity value of Rs 4.285 lakh crore.

"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," said Mukesh Ambani, Chairman and Managing Director of Reliance Industries.

"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."

Reliance Retail operates India's fastest growing and most profitable retail business serving close to 640 million footfalls across its 12,000 stores nationwide.

 

  

Comment on this article

  • Suhail, Mangalore

    Fri, Oct 2 2020

    When this guys get money from islamic country There is no problem or rules and regulations. To pump money to India.

    DisAgree [3] Agree [15] Reply Report Abuse

  • stan, BENGALURU

    Fri, Oct 2 2020

    it is business dear...both sides work only for their benefits...don't bring communal angle into this...

    DisAgree Agree Reply Report Abuse

  • Praveen, surathkall

    Fri, Oct 2 2020

    now people may say that Modi told them to investin Reliance.
    Come on, its business for mutual benefits

    DisAgree Agree Reply Report Abuse

  • Sanjeev Kamath, Mumbai

    Thu, Oct 1 2020

    Very sad, some don't want India, industries and industrialists to prosper.
    They SUSPECT everything in the well.

    DisAgree [4] Agree [4] Reply Report Abuse

  • Pavan, Mlr

    Fri, Oct 2 2020

    By end of 2024 india will be sold to adani and ambani...baki sab changasee

    DisAgree [4] Agree [11] Reply Report Abuse

  • Prem, Mangalore

    Thu, Oct 1 2020

    Mukesh don't need money... Please invest in Anil 's company.

    DisAgree [1] Agree [14] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Thu, Oct 1 2020

    I wonder if Reliance is the only Company in India ...

    DisAgree [5] Agree [40] Reply Report Abuse

  • Mohan, Sullia

    Thu, Oct 1 2020

    Sheikh s oil business will soon come to end, so clever move by sheikh investing in Ambanis company.
    LATER THEY will invest more nd more sector's.

    DisAgree [8] Agree [17] Reply Report Abuse

  • DP, Balmatta

    Thu, Oct 1 2020

    And then ultimately DIVEST when they run out of money... Karma always turns around!

    DisAgree [2] Agree [12] Reply Report Abuse

  • Ahmed, Bangalore

    Fri, Oct 2 2020

    Jossey, although there are many other companies but the blessings of our current Government is only on couple of them such as Adani and Ambani, due to which all other companies are on verge of collapse except these few whose blessings are from our Gujju leaders of our country.
    So the investors are very well aware that if Governmemt support is on any company that company will not make loss. These are all internal tactics and settings brother.

    DisAgree [2] Agree [6] Reply Report Abuse

  • KRISHNAMOORTHY, MANGALURU

    Fri, Oct 2 2020

    Then how Anil Ambani's group companies are incurring losses ? See the list of BSE and NSE companies. You will come know how may good companies are there In India.

    DisAgree [1] Agree [6] Reply Report Abuse


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Title : Abu Dhabi's Mubadala to invest over Rs 6,247 cr in Reliance Retail


 
 
 
 

 
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