Mukesh Ambani-owned Reliance Retail Ventures will soon get an investment of Rs 8278 crore at a valuation of Rs 8.2 lakh crore. The company is being helmed by Ambani's daughter, Isha Ambani.
Qatar Investment Authority (QIA) has reportedly agreed to invest Rs 8,278 crore in Reliance Retail at a massive valuation of 100 billion dollars.
In 2020, Reliance Retail had sold 10.1 percent shares.
The two entities announced the deal on Wednesday.
The valuation is around 97 percent more than last round. It was around Rs 4.2 lakh crore.
Reliance Retail has over 18000 stores. It is expected to outpace global retail giants.
The Isha Ambani-led company is the largest retail firm in terms of sales and profit. It is nearly 3.5 times the listed value of DMart, India's largest listed retail chain.
The company's revenue is around 31 billion dollars which is 2.5 times the combined revenues of the next three retail chains, reported ET.
“We look forward to benefiting from QIA’s global experience and strong track record of value creation. The investment by QIA is a strong endorsement of a positive outlook towards the Indian economy and Reliance’s retail business model, strategy and execution capabilities," she said in a statement accessed by ET.
