QIA, Qatar’s sovereign fund, will invest $1 billion in Reliance Retail for a 0.99% stake in India’s largest retail chain, the two firms said Wednesday. The investment values Reliance Retail, part of Mukesh Ambani’s Reliance Industries, at $100 billion (pre-money).
Reliance Retail — which operates 18,500 stores and digital commerce platforms, selling everything from electronics to fashion and pharma — was last valued at $62.4 billion in 2020, when it raised billions of dollars from investors including Saudi Arabia’s Public Investment Fund and private equity giant KKR.
The investment comes at a time when Reliance Retail is expanding into new categories, including low-cost fast-fashion. The company has also Read Entire Article
