Reliance Retail cashes yet another hefty cheque – Mubadala to invest ₹6,247.5 crore
- This is the fifth investment for Reliance Retail Ventures Limited.
- Reliance Retail continues to be valued at ₹4.285 lakh crore and has raised a total of ₹24,847.5 crore already.
AdvertisementReliance Retail gets ₹6,247.5 crore from Mubadala. This is the fifth investment for Reliance Retail Ventures Limited, after having raised investments from Silver Lake, KKR, General Atlantic so far.Reliance Retail continues to be valued at ₹4.285 lakh crore and has raised a total of ₹24,847.5 crore already.
|Investment in Reliance Retail
|Stake in Reliance Retail
|Investment in Jio
|Stake in Jio
|₹ 9,093.60 crore
"We value the partnership with a knowledge-rich organization like Mubadala and acknowledge their confidence in our mission to strengthen the core of India’s retail sector – the millions of small retailers, merchants and shopkeepers – through the power of technology. Mubadala’s investment and guidance will be an invaluable support in this journey," said Mukesh Ambani in a statement.
At his speech during Reliance’s Annual General Meet, Ambani had mentioned that talks are on with potential investors for investments in retail. According to Business Insider’s sources, Reliance Retail is set to raise $5.7 billion with only existing Jio investors getting on board as investors to “further deepen the relationship”.
For Mubadala, this is the second investment after it cut out a $1.2 billion cheque for Jio Platforms. "We are pleased to deepen our relationship with Reliance Industries through this investment in Reliance Retail Ventures. Their vision is the inclusive transformation of India’s consumer economy through the power of digitization, creating opportunities and market access for millions of small businesses across the country, and we are committed to supporting the company’s continuing development," said Khaldoon Al Mubarak, Managing Director and Group CEO, Mubadala Investment Company, in a statement.
Mazagon Dock IPO shines while UTI AMC and Likhitha Infrastructure clock in a tepid response from investors
Popular on BI
- Toyota was right about hybrid cars all along
- The youngest son of Asia's richest man is getting married, and the pre-wedding event features Rihanna, a 9-page dress code, and live animals
- Check out some of the best and most daring looks at Ambani's pre-wedding bash — from Rihanna to Mark Zuckerberg
- Bengaluru cafe blast: Karnataka CM Siddaramaiah to chair meeting with top police officials today
- India retains full policy space for benefit of farmers, fishermen at WTO: Goyal
- Sensex, Nifty settle at new closing high levels in first part of special live trading session
- Passive Income Streams
- Gas stoves create more nanoparticle pollution than a busy street with diesel and gas cars, study finds