Reliance Industries Ltd. (RIL) said on Wednesday that the Qatar Investment Authority will invest Rs. 8,278 crore in its subsidiary Reliance Retail Ventures Limited (RRVL) through a wholly-owned subsidiary. According to a BSE filing by RIL, this transaction gives RRVL a pre-money equity value of Rs. 8.278 lakh crore.

On a fully diluted basis, QIA's investment will result in a 0.99 percent minority ownership holding in RRVL. The last round of funding by RRVL in 2020 included contributions from several international investors totaling Rs 47,265 crore at a pre-money equity valuation of Rs 4.21 lakh crore.

Isha Mukesh Ambani, Director, RRVL said, “We are delighted to welcome QIA as an investor in Reliance Retail Ventures Limited. We look forward to benefitting 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 of 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.”

Mansoor Ebrahim Al-Mahmoud, CEO, QIA, said, “QIA is committed to supporting innovative companies with high-growth potential in India’s fast growing retail market. We are looking forward to Reliance Retail Ventures Limited, with its strong vision and impressive growth trajectory, joining our growing and diverse portfolio of investments in India.”

According to RIL, RRVL's vision is to energise the Indian retail industry through an inclusive strategy that serves millions of customers, empowers micro, small, and medium-sized enterprises (MSMEs), and collaborates closely with international and domestic businesses as a preferred partner, in order to deliver enormous benefits to Indian society while safeguarding and creating employment for millions of Indians.

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