Private Equity

PE Fund Investments

QIA to invest Rs.8,278-Cr in Reliance Retail Ventures for 0.99% stake

Press Release  

Qatar Investment Authority (QIA) is to invest INR 8,278 crore in Reliance Retail Ventures Ltd (RRVL), a subsidiary of publicly listed Reliance Industries Ltd. QIA's investment will translate to an equity stake of 0.99% in RRVL on a fully-diluted basis. The latest investment values RRVL at INR 8.278 lakh crore (pre-money). The previous fund-raise by RRVL of INR 47,265 crore in 2020 was done at a pre-money equity value of INR 4.21 lakh crore. RRVL, through its subsidiaries and associates, operates India's largest retail business, serving 267 million customers with an integrated omnichannel network of over 18,500 stores and digital commerce platforms across grocery, consumer electronics, fashion & lifestyle, and pharma consumption baskets. Morgan Stanley acted as financial advisor to RRVL, and Cyril Amarchand Mangaldas and Davis Polk & Wardwell acted as legal counsels. Goldman Sachs acted as the financial advisor to RIL. AZB & Partners and Cleary Gottlieb acted as legal counsel to QIA.

From the Venture Intelligence PE-VC Deal Database: In Oct-20, RRVL had raised $6.4 Billion from Public Investment Fund, Mubadala Investment, ADIA, Silver Lake, TPG Capital, KKR, GIC, and General Atlantic.