RIL shares surge 4 per cent on PIF’s investment in Reliance Retail Ltd
PIF will take a 2.04 per cent stake in Reliance Retail Ventures Ltd (RRVL), the Indian firm said in a statement.
PIF will take a 2.04 per cent stake in Reliance Retail Ventures Ltd (RRVL), the Indian firm said in a statement.
1. With this latest investment, the firm has raised total Rs 47,265 crore in the last two months. 2. Reliance Retail Limited, a subsidiary of RRVL, operates India's largest, fast-growing retail business serving close to 640 million footfalls at its 12,000 stores across the country.
On October 1, Reliance Industries had announced that Abu Dhabi-based sovereign wealth fund Mubadala Investment Co will invest Rs 6,247.5 crore.
This is the second investment announced in half an hour by Reliance Retail Ventures around midnight, the earlier one being by GIC of Singapore.
GIC will be the fifth investor in Reliance Retail Ventures Ltd (RRVL), a subsidiary of Reliance Industries.
The latest investment in RRVL comes roughly two weeks after US private equity firm Silver Lake Partners agreed to buy 1.75 per cent stake.
Silver Lake will invest Rs 7,500 crore in Reliance Retail Ventures (RRVL), a subsidiary of Reliance Industries, for a 1.75 per cent stake.
