Private Equity

PE Fund Investments

Reliance Retail to raise Rs.4,967-Cr more from ADIA

Press Release  

Existing investor Abu Dhabi Investment Authority (ADIA) is to invest INR 4,966.80 crore in fresh capital into Reliance Retail Ventures Ltd (RRVL), in return for an equity stake of 0.59% on a fully diluted basis. The investment values RRVL, the retail arm of publicly listed Reliance Industries Ltd, at a pre-money equity value of INR 8,38,100 crore, placing it among India's top four most valuable companies in the country. RRVL, through its subsidiaries and associates, operates an omni-channel network of over 18,500 retail stores and digital commerce platforms. RRVL's business spans across grocery retail, consumer electronics, apparel, footwear, e-commerce, and jewellery. It reported a consolidated revenue of INR 2,60,000 crore and a net profit of INR 9,181 crore in FY23. Morgan Stanley acted as the financial adviser to Reliance Retail Ventures and Cyril Amarchand Mangaldas and Davis Polk & Wardwell acted as the company's legal counsels.

From the Venture Intelligence PE-VC Deal Database: In Oct 2020, ADIA had invested INR 5,512.50 crore in RRVL,as part of a INR 47,265 Cr (USD 6.4 B) round along with other investors. (Subscribers to the database can login to view the more details.)