ADIA-Reliance Retail deal: RIL share price gains on investment news

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

live

• bselive
• nselive

Volume

Todays L/H

More

×

Reliance Industries (RIL) share price gained in early trade on October 7 on investment by the ADIA into Reliance Retail Ventures.

A wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA) will invest Rs 5,512.50 crore into the company's subsidiary Reliance Retail Ventures (RRVL), as per the press release.

This investment values RRVL at a pre-money equity value of Rs 4.285 lakh crore.

ADIA’s investment will translate into a 1.20% equity stake in RRVL on a fully diluted basis.

With this investment, RRVL has raised Rs 37,710 crore from leading global investors including Silver Lake, KKR, General Atlantic, Mubadala, GIC, TPG  and ADIA in less than four weeks, it added.

Also Read - ADIA-Reliance Retail Deal: Abu Dhabi's sovereign fund to invest Rs 5,512.5 crore in RIL's retail arm

“We are delighted with ADIA’s current investment and continued support and hope to benefit from its strong track record of over four decades of value creation globally," said Mukesh Ambani, chairman and managing director of Reliance Industries.

"The investment by ADIA is a further endorsement of Reliance Retail’s performance and potential and the inclusive and transformational New Commerce business model that it is rolling out," he added.

At 09:20 hrs Reliance Industries was quoting at Rs 2,229.50, up Rs 19.35, or 0.88 percent on the BSE.

Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd. which published moneycontrol.com