Qatar Investment Authority bought 0.99% stake in Reliance Retail for Rs 8278 crore, RRVL became the fourth largest company with the deal

Reliance Retail Ventures Update: Qatar Investment Authority is going to buy about one percent stake in Reliance Retail Ventures Limited, the retail company of Reliance Industries, for Rs 8278 crore. The company has shared this information by issuing a release. With this transaction value, Reliance Retail Ventures Limited has joined the four big companies of the country with a value of Rs 8.278 lakh crore.

Reliance Retail became the fourth largest company

Reliance Retail Ventures Limited said that Qatar Investment Authority will invest Rs 8278 crore in Reliance Retail through a subsidiary. Through this investment, 0.99 per cent equity will be issued to Qatar Investment Limited in Reliance Retail. With this deal, the valuation of Reliance Retail Ventures Limited has become Rs 8.278 lakh crore, the company has become the fourth largest company in the country in terms of market capitalization.

Market value doubled in 3 years

Earlier in 2020, Reliance Retail Ventures Limited raised Rs 47,265 crore from global investors at a valuation of Rs 4.21 lakh crore. That is, the valuation of Reliance Retail has almost doubled in just three years.

Will benefit from QIA’s global experience

On this deal, Isha Ambani, director of Reliance Retail Ventures Limited, said, “We are pleased to welcome the Qatar Investment Authority as an investor in Reliance Retail. He said that Qatar Investment Authority’s global experience and solid trade record in value creation will be of great benefit in making Reliance Retail the world’s best institution, which will see a big transformation in the country’s retail sector. Isha Ambani said that the investment of Qatar Investment Authority stamps the positive outlook of the Indian economy as well as the business model of Reliance Retail, its strategy and execution capability.