The Abu Dhabi Investment Authority (ADIA) is set to invest approximately US$600 million in Reliance Retail Ventures Limited (RRVL).
The investment will place Reliance Retail among the top four companies by equity value in India.
“Reliance Retail has demonstrated strong growth and adaptability in a market that is evolving at an unprecedented pace,” said Hamad Shahwan Aldhaheri, executive director of the private equities department, ADIA. “This investment aligns with our strategy of supporting our portfolio companies that are transforming their respective end markets.”
Last month, the Indian retail giant secured a $250 million investment from KKR after announcing a $1 billion investment from Qatar Investment Authority (QIA). Reliance Retail operates more than 18,000 stores and digital commerce platforms across grocery, consumer electronics, fashion and lifestyle, and pharma consumption categories.
“ADIA’s investment in RRVL is a further testament to their belief in the Indian economy and our business fundamentals, strategy and execution capabilities,” said Isha Mukesh Ambani, executive director of Reliance Retail Ventures.
Last week, RRVL’s sister company Reliance Brands acquired majority ownership of Superdry’s intellectual property assets for the India, Sri Lanka, and Bangladesh territories for US$48.27 million via a licensing joint venture.
