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QIA to acquire stake in Reliance Retail for ₹8.3K cr
The Morning Standard
|August 24, 2023
Deal comes as Reliance is considering public listing for RRVL
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QATAR INVESTMENT AUTHORITY (QIA), the sovereign wealth fund of Qatar, will invest ₹8,278 crore in Reliance Retail Ventures (RRVL), the retail arm of Reliance Industries, to acquire 0.99% stake. The investment will value RRVL, country’s largest retailer, at ₹8.28 lakh crore.
In 2020, RRVL had raised ₹47,265 crore from global private equity funds for a 10.09% stake, valuing the firm at over ₹4.21 lakh crore. This was the largest fundraising exercise in the sector at that time. The company had raised funds from Silver Lake, KKR, Mubadala, Abu Dhabi Investment Authority, GIC, TPG, General Atlantic and Saudi Arabia’s Public Investment Fund at a valuation of about $57 billion at that time.
Dit verhaal komt uit de August 24, 2023-editie van The Morning Standard.
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