The Abu Dhabi Investment Authority (ADIA) is looking to acquire more stake in the retail conglomerate that Mukesh Ambani owns. ADIA wants to invest $600 million in Reliance Retail, according to reports by The Economic Times.
ADIA has already made a financial commitment by purchasing a 1.2% share in Reliance Retail Ventures in October 2020 for 5,512.50 crore.
The global investment giant KKR fully subscribed for the whole amount of 2,069.50 crore earlier this week, and 1.71 crore equity shares have been allocated to RIL's retail subsidiary.
After the share allocation, KKR's stake in RRVL climbed to 1.42% from 1.17%.
RIL got ₹8.278 lakh crore (USD 100 billion) earlier this month in exchange for a 1% share in RRVL valued at USD 8.278 lakh crore from the Qatar Investment Authority (QIA).
The company was valued at more than 4.2 lakh crore when RRVL raised 47,265 crore (about $6.4 billion) from global private equity groups in 2020 for a 10.09% stake.
Its digital and new commerce business generated 18% of Reliance Retail's total sales of 2.60 lakh crore in FY23.
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