Reliance Retail Ventures Ltd (RRVL) which is a subsidiary of Reliance Industries Limited (RIL) has raised ₹9,555 crores from Saudi Arabian sovereign wealth fund Public Investment Fund (PIF), in exchange for a 2.04% equity stake.

 

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This investment values RRVL at a pre-money equity value of ₹4.587 lakh crore. It is assumed to further strengthen the PIF’s presence in India’s dynamic economy and promising retail market segment. The investment in RRVL follows the PIF’s earlier acquisition of a 2.32% stake in Reliance Jio Platforms, a digital services subsidiary of Reliance Industries Limited.

Reliance Retail has been aggressively growing its presence in the country and currently operates around 12,000 stores across the country.

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