Qatar Investment Authority (QIA) has announced its plan to invest Rs 8278 crore in Reliance Retail Ventures (RRVL), securing a notable 0.99% stake. In an official statement issued on August 23, QIA’s wholly-owned subsidiary will facilitate this strategic investment.
QIA’s Strategic Investment Strengthens Reliance Retail
Reliance Retail Ventures, a prominent player in India’s retail landscape, operates an extensive network of over 18,500 stores across the nation. The investment from QIA is poised to further enhance Reliance Retail’s position in the market.
Isha Ambani, Director of RRVL, expressed enthusiasm about the partnership, stating, “We welcome QIA as an investor in Reliance Retail Ventures. We look forward to leveraging QIA’s global experience and strong record in value creation to build RRVL into a world-class institution.”
Rs 8278 Crore for 0.99% Stake in Reliance Retail Ventures
Mansour Ibrahim Al-Mahmood, Chief Executive Officer of QIA, highlighted the commitment to supporting innovation and growth in India’s dynamic retail sector. This investment aligns with QIA’s expansion strategy, following its successful raising of Rs 47,265 crore from global private equity funds in 2020, in exchange for a 10.09% stake. The move reinforces QIA’s positioning in India’s high-potential retail landscape.
