RIL spikes 4% after bagging another cheque for retail arm

NEW DELHI: Shares of Reliance Industries surged nearly 4 per cent on Wednesday after the company said Abu Dhabi sovereign fund will invest over Rs 5,500 crore in its retail arm.

Reliance Industries had on Tuesday announced that a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA) will invest Rs 5,512.50 crore in Reliance Retail Ventures. ADIA’s investment will translate into a 1.20 per cent equity stake in Reliance Retail on a fully diluted basis.

This investment values Reliance Retail at a pre-money equity value of Rs 4.285 lakh crore.


With this investment, the company has raised Rs 37,710 crore from leading global investors including Silver Lake, KKR, General Atlantic, Mubadala, GIC, TPG and ADIA in less than four weeks.

Investments in Reliance Retail comes after similar deals in Jio Platforms. The company sold nearly 33 per cent in Jio to a clutch of foreign investors, including Google and Facebook.

Reliance Retail operates India's largest retail business spread across nearly 12,000 stores nationwide.

Shares of Reliance Industries were trading up 3.57 per cent at Rs 2,289.10 on BSE.