Reliance Industries said that Abu Dhabi’s sovereign fund, Mubadala Investment Co, would invest INR 6,247 Cr. The deal will give Mubadala a 1.4% stake, valuing Reliance Retail before the investment at INR 4.28 lakh Cr.
"I am happy to welcome Mubadala as a valued investor in Reliance Retail Ventures. We value the partnership with a knowledge-rich organisation like Mubadala and acknowledge their confidence in our mission to strengthen the core of India’s retail sector – the millions of small retailers, merchants and shopkeepers – through the power of technology. Mubadala’s investment and guidance will be an invaluable support in this journey"
said Mukesh Ambani, chairman and managing director of Reliance Industries
The latest deal has taken the total overseas investments announced in Reliance Retail in the past three weeks to nearly INR 24,850 Cr, for a 5.65% stake, making the company one of the hottest global investment destinations in recent months.