Reliance Retail Ventures announced on Friday, October 6, that a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) will invest ₹4,966.80 crore into the company. According to a statement shared by the retail major, the investment values Reliance Retail Ventures 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.
The investment by ADIA will translate into an equity stake of 0.59 per cent in Reliance Retail on a fully-diluted basis, according to the statement. The transaction is subject to customary approvals. Morgan Stanley acted as financial advisor to Reliance Retail Ventures Limited and Cyril Amarchand Mangaldas and Davis Polk & Wardwell acted as legal counsels.
“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,” said Hamad Shahwan Aldhaheri, Executive Director of the Private Equities Department, ADIA.
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Updated: 06 Oct 2023, 09:16 PM IST