Amidst the Corona crisis, the continuation of the investments being made by companies across the world in Reliance Retail, a subsidiary of Reliance Industries (RIL), continues.
In this series, the Abu Dhabi Investment Authority (ADIA) will invest Rs 5,512.50 crore in the retail business of Reliance Group, led by veteran industrialist Mukesh Ambani. Through this investment, ADIA will buy a 1.2 percent stake in Reliance Retail. "With this investment, RRVL has raised Rs 37,710 crore within four weeks through leading global investors such as Silver Lake, KKR, General Atlantis, Mubadala, GIC, TPG, and Idea," said a statement issued by Reliance.
RRVL's global investors include Silver Lake, KKR, General Atlantic, Mubadla, GIC and TPG. Silver Lake has two investment proposals. Mukesh Ambani, Chairman and Managing Director of Reliance Industries Ltd, said on ADIA's investment, "We are pleased to present and continuously support the Abu Dhabi Company and its four decades of global strong track record for RRVL." Let's hope for profit. This investment by ADIA reflects the strength and potential of Reliance Industries to initiate an overall transformation in the business sector.
Hamid Shahwan Aldaheri, executive director of ADIA said, RRVL has emerged as a force to reckon with in the Indian retail market and has made a strong mark in the physical and digital supply chain. The company has moved strongly on the path of potential growth. Reliance Retail Limited has around 64 crore buyers annually in its more than 12 thousand stores spread across the country. It is India's largest and fastest growing retail business.