Mubadala  to pick up 1.4% stake in Reliance Retail for Rs. 6247 crore

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Mumbai: Reliance Industries (RIL) on Thursday announced that Abu Dhabi-based sovereign investor Mubadala Investment Company will pick up 1.40 per cent equity stake in its retail subsidiary Reliance Retail Ventures Limited (RRVL) for Rs. 6247.5 crore.

This is the second investment by Mubadala in a Reliance Industries subsidiary after the US $1.2 billion investment in Jio Platforms announced earlier this year.

“I am happy to welcome Mubadala as a valued investor in Reliance Retail Ventures. We value the partnership with a knowledge-rich organization 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” Mukesh Ambani, Chairman and Managing Director, Reliance Industries said.

Yesterday, RIL had announced that global growth equity firm General Atlantic will pick up 0.84 per cent equity stake in its subsidiary Reliance Retail Ventures Limited (RRVL) for Rs. 3675 Crore.

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