Tribune News Network
Mumbai/Doha
Qatar Investment Authority (QIA) has announced an investment of approximately $1 billion into Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries Limited (Reliance Industries). QIA’s investment will translate into a minority equity stake of 0.99% in RRVL on a fully-diluted basis.
RRVL, through its subsidiaries and associates, operates India’s largest, fastest growing, and most profitable retail business with a network of over 18,500 stores and digital commerce platforms across grocery, consumer electronics, fashion & lifestyle, and pharma.
Mansoor Ebrahim Al Mahmoud, CEO, QIA, said, "QIA is committed to supporting innovative companies with high-growth potential in India’s fast growing retail market. We are looking forward to Reliance Retail Ventures Limited, with its strong vision and impressive growth trajectory, joining our growing and diverse portfolio of investments in India.”page 9