Qatar Investment Authority to invest $1b in India’s Reliance Retail Ventures

It will now hold a 0.99% stake in RRVL.

The Qatar Investment Authority (QIA), through a wholly-owned subsidiary, committed to investing around $1b (INR82.8b) in Reliance Retail Ventures Limited (RRVL) as part of its goal to support India’s fast-growing economy.

In a statement, Reliance Retail said this brings its investment values to a pre-money equity value of $103b (INR8.3t).

QIA will hold a minority stake of 0.99% in RRVL once the investment is completed.

“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,” said RRVL Director Isha Mukesh. 

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“The investment by QIA is a strong endorsement of a positive outlook towards Indian economy and Reliance’s retail business model, strategy and execution capabilities,” she added. 

RRVL through its subsidiaries and associates has an integrated omni-channel network of over 18,500 stores and digital platforms across grocery, consumer electronics, fashion & lifestyle, and pharma consumption, serving around 267 million customers.

$1 = INR82.53