Reliance Industries Limited and Reliance Retail Ventures Limited (RRVL) announced today that Mubadala Investment Company (Mubadala), the Abu Dhabi-based sovereign investor, will invest Rs. 6,247.5 crore into Reliance Retail Ventures Limited (RRVL), a subsidiary of India’s Reliance Industries Limited. 

 

The investment values Reliance Retail at a pre-money equity value of Rs. 4.29 lakh crore. Mubadala’s investment will translate into a 1.40% equity stake in RRVL on a fully diluted basis.This marks the second significant investment by Mubadala in a Reliance Industries subsidiary after the US $1.2 billion investment in Jio Platforms announced earlier this year.

 

Reliance Retail Limited, a subsidiary of RRVL, operates India’s fastest growing and most profitable retail business serving close to 640 million footfalls across its around 12,000 stores nationwide. Reliance Retail’s vision is to galvanize the Indian retail sector through an inclusive strategy that empowers millions of farmers and micro, small and medium enterprises. Working closely with global and domestic companies as a preferred partner, it aims to deliver immense benefits to Indian society, while protecting and generating employment for millions of Indians.

 

Mukesh Ambani, Chairman and Managing Director of Reliance Industries said, “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.”

 

Khaldoon Al Mubarak, Managing Director and Group CEO, Mubadala Investment Company said, "We are pleased to deepen our relationship with Reliance Industries through this investment in Reliance Retail Ventures. Their vision is the inclusive transformation of India’s consumer economy through the power of digitization, creating opportunities and market access for millions of small businesses across the country, and we are committed to supporting the company’s continuing development."