RRVL RAISES Rs 37,710 CRORE IN JUST FOUR WEEKS

Reliance Retail Ventures Limited (RRVL) which is a subsidiary company of Reliance Industries Limited (RIL) led by Mukesh Ambani, and also the country's largest retailer by reach, scale, revenue and profitability has raised Rs 37,710 crore from leading global investors in just four weeks.

RRVL founded in 2006 presently owns around 12,000 Retail stores. Reliance Retail is engaged in the business of retailing products and services across five key consumption baskets, viz, Fashion and Lifestyle, Consumer Electronics, Grocery, Petro Retail, and Connectivity.

On August 29, 2020, Reliance Retail announced that it is acquiring the Retail & Wholesale Business and the Logistics & Warehousing Business from the Future Group for Rs 24,713 crore adding 15 lakh square meters of retail space to the company.

In September 2020, it was announced that Silver Lake bought a 2.13% Stake in Reliance Retail for Rs 9,375 crores valuing the business at Rs 4.28 trillion.

And after that there is no stopping one after the other leading global investors are stepping forward.

On 23 September, Reliance Retail announced that KKR bought a 1.28% stake for Rs 5500 crores. In October, GIC acquired a 1.22% stake for $752 million, while TPG acquired a 0.41% stake for $250 million giving Reliance Retail a pre-money valuation of $58.5 billion.

Also, Reliance Retail announced that Mubadala is planning to invest Rs 6247.5 crores for a 1.4% stake and General Atlantic to buy 0.84% in Reliance Retail for Rs 3,675 crores. And now Abu Dhabi Investment Authority (ADIA) will invest Rs 5,512.50 crores for a 1.2% stake in RRVL. Till now, 7 Leading Global Investors have invested in RRVL that comes to a total of Rs 37,710 crores and is still counting.