ADIA may infuse $600 million in Reliance Retail: Report
₹5,512.50 crore in October 2020. Earlier this week, RIL's retail arm received the full subscription amount of ₹2,069.50 crore from the global investment firm KKR and has allotted 1.71 crore equity shares. Also read: Reliance Retail in talks with Gulf, Singapore funds on $1.5 billion investment: Report Following the share allotment, KKR's shareholding in RRVL has increased to 1.42% from 1.17%.
Earlier this month, RIL received ₹8,278 crore from Qatar Investment Authority (QIA) for around 1% stake in RRVL at a valuation of ₹8.278 lakh crore (USD 100 billion). Also read: KKR to invest ₹2,069 cr in Reliance Retail, raise stake to 1.42% In 2020, RRVL raised ₹47,265 crore (around $6.4 billion) from global private equity funds for a 10.09% stake, valuing the company at more than ₹4.2 lakh crore. (Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) This was the largest fundraising exercise in the sector at that time.
The company had raised funds from Silver Lake, KKR, Mubadala, Abu Dhabi Investment Authority, GIC, TPG, General Atlantic, and Saudi Arabia's Public Investment Fund at a valuation of around $57 billion at that time. Also read: Reliance Retail acquires majority stake in Alia Bhatt’s Ed-a-Mamma brand RRVL is aggressively expanding its business by acquiring companies and getting the franchise rights of leading international brands for India. Besides, it is investing in scaling up infrastructure and also acquired the India business of German retail major Metro Cash and Carry.
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