Reliance Retail Ventures Limited (“RRVL”) announced today that the Qatar Investment Authority (“QIA”) will invest 8,278 crore in RRVL, a subsidiary of Reliance Industries Limited, through a wholly-owned subsidiary. With this investment, RRVL is valued at 8.278 lakh crore in pre-money equity. On a fully diluted basis, QIA’s investment will result in a 0.99% minority ownership position in RRVL.
The latest round of funding for RRVL in 2020 totaled 47,265 crore from a variety of international investors, with a pre-money equity value of 4.21 lakh crore. “We are delighted to welcome QIA as an investor in Reliance Retail Ventures Limited. We look forward to benefiting from QIA’s global experience and strong track record of value creation as we further develop Reliance Retail Ventures Limited into a world-class institution, driving the transformation of the Indian retail sector. The investment by QIA is a strong endorsement of a positive outlook towards Indian economy and Reliance’s retail business model, strategy and execution capabilities.”
Mansoor Ebrahim Al-Mahmoud, CEO, QIA, said, “QIA is committed to supporting innovative companies with high-growth potential in India’s fast growing retail market. We are looking forward to Reliance Retail Ventures Limited, with its strong vision and impressive growth trajectory, joining our growing and diverse portfolio of investments in India.”
With an integrated omnichannel network of more than 18,500 stores and digital commerce platforms covering the grocery, consumer electronics, fashion & lifestyle, and pharmaceutical consumption baskets, RRVL, through its subsidiaries and associates, operates India’s largest, fastest-growing, and most profitable retail business.
Reliance Retail Ventures Limited received financial advice from Morgan Stanley, legal assistance from Cyril Amarchand Mangaldas and Davis Polk & Wardwell, and financial advice from Morgan Stanley. RIL received process and transaction structure advice from Goldman Sachs, which was serving as its financial advisor.
