Another cheque: Abu Dhabi’s Mubadala buys 1.4% stake in Reliance Retail for ₹6,247.5 cr

Abu Dhabi-based sovereign wealth fund Mubadala picked up 1.4 % stake in Reliance Retail Ventures (RRVL), a subsidiary of Reliance Industries Limited, for ₹6,247.5 crore, the company said in a statement.

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,” RIL stated in its regulatory filing.

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 approximately 12,000 stores nationwide.