ADIA's Whopping Investment: Injecting Rs 4,966.80 Crore into Reliance Retail Venture
Reliance Retail is the retail initiative of Reliance Industries Limited and is central to the group’s consumer facing businesses. Reliance Retail has been at the forefront of bringing about Retail revolution in India.
Abu Dhabi Investment Authority (ADIA) plans to invest Rs 4,966.80 crore in Reliance Retail Ventures (RRVL), a subsidiary of Reliance Industries. This investment values RRVL at Rs 8.381 lakh crore, making it one of the top four companies by equity value in India. ADIA's investment will translate into a 0.59% stake in RRVL. The transaction is subject to customary approvals.
Morgan Stanley provided financial advisory services to Reliance Retail Ventures, while Cyril Amarchand Mangaldas and Davis Polk & Wardwell served as legal advisors. RRVL, in collaboration with its subsidiaries and partners, manages India's premier, rapidly expanding, and highly profitable retail enterprise. This enterprise serves 267 million loyal customers through an integrated omnichannel framework, encompassing over 18,500 stores and digital commerce platforms spanning grocery, consumer electronics, fashion & lifestyle, and pharmaceutical products.
The scrip opened today at Rs 2,309.95 and reached the day's high and low of Rs 2,312.55 and Rs 2,295.00, respectively. Its 52-week high stood at Rs 2,635.17, whereas its 52-week low was Rs 2,012.14. The current market cap of the company is Rs 15,54,584.03 crore. The Promoters are holding 50.39% stake in the company whereas the Institutional and non-institutional holdings are 38.85 per cent and 10.76 per cent, respectively.
Reliance Industries Limited (RIL) is an Indian multinational conglomerate, headquartered in Mumbai, India. Founded by Dhirubhai Ambani in 1973, Reliance Industries is one of the largest companies in India by market capitalization and revenue. The company has a diversified business portfolio, including energy, petrochemicals, retail, telecommunications, mass media, and textiles.
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Disclaimer: The article is for informational purposes only and not investment advice.