Mukesh Ambani’s Reliance Industries plans to sell an 8-10% share in Reliance Retail Ventures Ltd (RRVL) in order to build the firm before an official IPO announcement.
Mukesh Ambani’s RIIL is planning to sell an additional 8-10% share in Reliance Retail Ventures Ltd (RRVL) ahead of the anticipated IPO, according to Economic Times, citing feedback from industry experts.
According to the article, the share sale would take 12-15 months to complete. The share sale would clear the way for RRVL to go public in the future. According to ET, the current valuation of $100 billion is too much for the market to absorb. The corporation intends to sell stock to reduce the size of its IPO.
Qatar Investment Authority (QIA) announced an investment of Rs. 8,278 crores in Ambani’s Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries Limited (Reliance Industries), on Thursday.
The investment will assist the company in obtaining a 0.99% minority equity position in RRVL. According to a post on the official website of Qatar Investment Authority (QIA), the investment will represent a massive infusion into India’s largest retail powerhouse.
About Reliance Retail Ventures Limited
Reliance Retail Ventures Limited currently operates India’s most vast and fast developing retail empire through its various companies and affiliates.
RRVL dominates the Indian retail sector, with over 18,500 brick-and-mortar stores and internet commerce platforms spanning grocery, consumer electronics, fashion & leisure, and pharmaceuticals.
Reliance Retail Ventures Limited director Isha Mukesh Ambani voiced her excitement about the agreement, adding, “We are delighted to welcome QIA as an investor in Reliance Retail Ventures Limited.” We look forward to using QIA’s worldwide experience and great track record of value creation as we continue to build Reliance Retail Ventures Limited into a world-class institution that will drive transformation in the Indian retail sector.”
“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 added.
