Mukesh Ambani’s Reliance Industries Limited may sell 8-10% stake in RRVL: Report

The report said that the sale of stake would be completed in a duration of 12-15 months. The sale of stake would pave way for a successful public listing of RRVL in future. The current valuation of $100 billion is considered too large for the market to absorb, reported ET. The company is planning to sell stake to make its IPO size manageable.

On Thursday, Qatar Investment Authority (QIA) announced an investment of ₹8,278 crores into Ambani’s Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries Limited (Reliance Industries).

The investment will help the company secure a minority equity stake off 0.99% in RRVL. The investment will prove to be a giant infusion into India’s largest retail giant, read a post on the official website of Qatar Investment Authority (QIA).

About Reliance Retail Ventures Limited

Reliance Retail Ventures Limited, through its various subsidiaries and associates, currently operates India’s most extensive and rapidly expanding retail empire.

With a network comprising over 18,500 brick-and-mortar stores and digital commerce platforms spanning groceries, consumer electronics, fashion and lifestyle, and pharmaceuticals, RRVL holds a preeminent position in the Indian retail landscape.

Isha Mukesh Ambani, director, Reliance Retail Ventures Limited, expressed her enthusiasm about this partnership, saying, “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 transformation in the Indian retail sector.”

“The investment by QIA is a strong endorsement of a positive outlook towards the Indian economy and Reliance’s retail business model, strategy, and execution capabilities,” she added.

Updated: 25 Aug 2023, 08:59 AM IST