(Manisha Mahar, Intern Journalist); Abu Dhabi-based sovereign fund Mubadala Investment Company will invest Rs 6,247.5 crore in Reliance Retail. By investing it, it will acquire 1.4 percent stake in Reliance Retail Ventures. Reliance Industries has given this information. In this way, Mubadala’s name has also been added to those global funds which are investing billions of dollars in the country’s largest retail company.
This is Mubadala’s second investment in Reliance Industries’ subsidiary. Earlier, it had acquired 1.85 percent stake in Jio Platforms by investing Rs 9,093.60 crore. Reliance said, “The valuation of Reliance Retail through this investment is in line with the prior equity value of Rs. 4.28 lakh crore.” The deal has brought the total foreign investment in Reliance Retail to 5.65 percent in the last three weeks. During this time investment of about 24,850 crores has been made. This has made the company the most attractive global destination in recent months. On Wednesday, Reliance announced an investment of Rs 5,500 crore in the retail venture. Of this, Rs 3,675 crore came from General Atlantic and Rs 1,875 crore from Silver Lake.
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