Another day, another investor – but this time into RRVL
This investment spree isn’t over yet, after gaining crores of money by giving some shares to some major investors, Reliance already made Jio Platforms debt-free. Even before the year 2020 gets over, Reliance is thinking long-term; yes, it targets India’s biggest business sector or retail business.
Having got investment from Silver Lake, KKR, and General Atlantic, it gets investment from its previous partner Mubadala. The Abu Dhabi-based sovereign investor will invest ₹ 6,247.5 crores (AED 3.1 billion) into Reliance Retail Ventures Limited.
The investment values Reliance Retail at a pre-money equity value of ₹ 4.285 lakh crore. Mubadala’s investment will translate into a 1.40% equity stake in RRVL on a fully diluted basis. Previously, it made a huge investment of US $1.2 billion in Jio Platforms and continues to trust Reliance, backed by Mukesh Ambani in India.
If you are a football fan, you will definitely know Mubadala Investment Company and its CEO Khaldoon Al Mubarak, who also founded the City Football Group that owns Manchester City and other football clubs worldwide. Mubadala’s US $232 billion portfolio spans over six continents with interests in multiple sectors and asset classes.
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.”
With such huge investments, Reliance will try to reform its retail business and try to be the best in the country as it did with Jio by disrupting the telecom sector. It will not amaze me if more investments come in the coming days because at the end of the day retail business is the biggest in India, and Mukesh Ambani is up to disrupting that segment as well.
via Jio Press Release
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