Shares of Reliance Industries Ltd on Friday gained over 3% after the company informed exchanges that Saudi Arabia wealth fund Public Investment Fund (PIF) will invest 9,555 crore in its retail arm.
                          

The stock was trading at 2,019 on BSE, up 3.25% from its previous close.

The transaction values Reliance Retail Ventures Ltd (RRVL) at a pre-money equity value of 4.587 trillion.

The investment in RRVL follows PIF’s earlier acquisition of a 2.32% stake in Jio Platforms, the digital services subsidiary of Reliance Industries (RIL).

This marks the fifth investment of a company in Reliance Retail, taking the total fundraising so far to 34,355 crore.

Last month, Mubadala Investment Co., the sovereign wealth fund of Abu Dhabi, invested 6,247.5 crore in the retail unit of Reliance Industries Ltd.

Prior to Mubadala, US private equity investor General Atlantic invested 3,675 crore in Reliance Retail and US tech investor Silver Lake Partners decided to invest an additional 1,875 crore in the retailer. RIL announced a 7,500 crore investment by Silver Lake for a 1.75% stake in Reliance Retail on 9 September.

Silver Lake’s was the first investment in Reliance Retail after Ambani raised around 1.5 trillion through stake sales in Jio Platforms. The private equity firm had earlier picked up a 2.08% stake for $1.34 billion in Jio Platforms.Shares of Reliance Industries Ltd on Friday gained over 3% after the company informed exchanges that Saudi Arabia wealth fund Public Investment Fund (PIF) will invest 9,555 crore in its retail arm.

The stock was trading at 2,019 on BSE, up 3.25% from its previous close.

The transaction values Reliance Retail Ventures Ltd (RRVL) at a pre-money equity value of 4.587 trillion.

The investment in RRVL follows PIF’s earlier acquisition of a 2.32% stake in Jio Platforms, the digital services subsidiary of Reliance Industries (RIL).

This marks the fifth investment of a company in Reliance Retail, taking the total fundraising so far to 34,355 crore.

Last month, Mubadala Investment Co., the sovereign wealth fund of Abu Dhabi, invested 6,247.5 crore in the retail unit of Reliance Industries Ltd.

Prior to Mubadala, US private equity investor General Atlantic invested 3,675 crore in Reliance Retail and US tech investor Silver Lake Partners decided to invest an additional 1,875 crore in the retailer. RIL announced a 7,500 crore investment by Silver Lake for a 1.75% stake in Reliance Retail on 9 September.

Silver Lake’s was the first investment in Reliance Retail after Ambani raised around 1.5 trillion through stake sales in Jio Platforms. The private equity firm had earlier picked up a 2.08% stake for $1.34 billion in Jio Platforms.

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