Qatar Investment Authority will invest Rs 8,278 crore ($1 billion) in Reliance Retail Ventures, the retail arm of India’s Reliance Industries, at a pre-money equity value of Rs 8.28 lakh crore ($100 billion), the companies said on Wednesday.
Reliance Retail Ventures has previously raised about Rs 47,265 crore from various global investors, it said.
Reliance Retail, a unit of Reliance Retail Ventures, was recently valued at $92 billion to $96 billion by two global consultants, a move that could signal an eventual initial public offering of the company.
Reliance Retail is India’s largest retailer and has been partnering with a slew of global brands to launch and expand its presence in India.
Reuters