This investment by ADIA will translate into an equity stake of 0.59% in RRVL on a fully-diluted basis.
Reliance Retail Ventures Limited (RRVL), a division of Reliance Industries Limited, would receive an investment of Rs 4,966.80 crore from a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA).
This investment values RRVL at a pre-money equity value of ₹ 8.381 lakh crore, which makes it among the top four companies by equity value in the country. This investment by ADIA will translate into an equity
stake of 0.59% in RRVL on a fully-diluted basis.
“We are pleased to further deepen our relationship with ADIA with their continued support as an investor in Reliance Retail Ventures Limited. Their long-standing experience of over decades of value creation globally will further benefit us in implementing our vision and driving the transformation of the Indian retail sector. ADIA’s investment in RRVL is a further testament to their belief in the Indian economy and our business fundamentals, strategy and execution capabilities," Reliance Retail Ventures Limited executive director Isha Ambani said.
Hamad Shahwan Aldhaheri, Executive Director of the Private Equities Department, ADIA, said: "Reliance Retail has demonstrated strong growth and adaptability in a market that is evolving at an unprecedented pace. This investment aligns with our strategy of supporting our portfolio companies that are transforming their respective end-markets. We are pleased to partner with the Reliance Group, and increase our exposure to India’s dynamic and fast-growing consumer sector," Aldaheri said.
Reliance had been in advanced discussions with international investors to fund about $2.5 billion ahead of a prospective stock market offering, according to a Reuters article from last month.
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.
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