Team Blitz India
NEW DELHI: The Abu Dhabi Investment Authority (ADIA) will invest Rs 4,966.80 crore in Reliance Retail Ventures Limited (RRVL), a division of Reliance Industries Limited.
Hamad Shahwan Aldhaheri, Executive Director of the Private Equities Department, ADIA, said,“Reliance Retail has demonstrated strong growth and adaptability in a market that is evolving at an unprecedented pace. This investment aligns with our strategy of supporting our portfolio companies that are transforming their respective end-markets.
“We are pleased to partner with the Reliance Group, and increase our exposure to India’s dynamic and fast-growing consumer sector,” Aldaheri said.
Reliance had been in advanced discussions with international investors to fund about $2.5 billion ahead of a prospective stock market offering.
With an integrated network of more than 18,500 stores and digital commerce platforms covering grocery, consumer electronics, and RRVL, through its subsidiaries and associates, operates India’s largest retail business.