Abu Dhabi Fund Buys $750m Stake In Retail Arm Of Indian Giant Reliance

A wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) will invest 55.1 billion rupees ($750 million) in Reliance Industries’ retail arm.

ADIA will buy a 1.2 percent stake in Reliance Retail Ventures, according to a statement, valuing the business at 4.29 trillion rupees.

Abu Dhabi funds in talks with India's Reliance over retail unit deal - sources

Abu Dhabi Investment Authority and Mubadala Investment Company understood to be in discussions with Indian giant

Last week, Arabian Business quoted sources saying that both ADIA and Mubadala were keen to buy stakes. Mubadala announced its $844 million deal last week.

With the latest investment, RRVL has raised 377.1 billion rupees from global investors including Silver Lake, KKR, General Atlantic, Mubadala, GIC, TPG and ADIA in less than four weeks.

UAE's Mubadala confirms $844m stake deal in retail unit of Indian giant Reliance

Mubadala says its investment will translate into a 1.40% equity stake in Reliance Retail Ventures Limited

Reliance Retail runs supermarkets, India’s largest consumer electronics chain, a cash-and-carry wholesaler, fast-fashion outlets and an online grocery store called JioMart.

It reported 1.63 trillion rupees in revenue in the year through March. The unit operates almost 12,000 stores in nearly 7,000 towns.

Mukesh Ambani, chairman and managing director of Reliance Industries, said: “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."

Hamad Shahwan Aldhaheri, executive director of the Private Equities Department at ADIA, added: “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 tothe region’s consumption-driven growth and rapid technological advancement.”

RECENT NEWS

UAE Announces New Tax Rule

The UAE has announced a new waiver for tax fines in the country Read more

First Abu Dhabi Bank Powers Ahead With Record Q1 Numbers

Total income up 11 per cent to $2.4bn as net profit rises 23% to $1.4bn and profit before tax reaches $1.67bn; Total as... Read more

UAE To Launch Dirham-backed Stablecoin

Dirham-backed stablecoin launched in the UAE will enable simple digital payments Read more

Saudi Non-oil Exports Passed $137bn Last Year

Saudi Arabia recorded record non-oil exports in 2024 as national economy diversifies Read more

Crypto Market: Retail Participation In The Sector Predicted To See A Major Boost In Bitcoin As A Result Of Trumps IRS Overturned

Bitcoin prices shot up in early trading hours on Monday, April 28, to cross the $94,000 mark, touching $94,083 briefly,... Read more

Emicool Secures First-ever Green Financing To Boost Sustainable Growth

The liquidity generated will be strategically deployed to accelerate the company’s district cooling projects across t... Read more