GIC to invest Rs 5,512 crore in Reliance Retail Ventures
Reliance Industries Limited and Reliance Retail Ventures ...
Reliance Industries Limited and Reliance Retail Ventures Limited (RRVL) announced in October that Singapore’s GIC will invest Rs 5,512.5 crore into RRVL, a subsidiary of Reliance Industries. This investment values RRVL at a pre-money equity value of Rs 4.285 lakh crore. GIC’s investment will translate into a 1.22 percent equity stake in RRVL on a fully diluted basis.
Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said: “It gives me great pleasure to welcome GIC to the Reliance Retail family. I am delighted that GIC, with its track record of close to four decades of successful long-term value investing across the world, is partnering with Reliance Retail in its mission to transform the Indian retail landscape. GIC’s global network and track record of long-term partnerships will be invaluable to the transformation story of Indian Retail. This investment is a strong endorsement of our strategy and India’s potential.”