Abu Dhabi-based sovereign investor Mubadala will invest AED 3.1 billion in Reliance Retail Ventures Limited, a subsidiary of India’s business conglomerate Reliance Industries Limited (Reliance Industries).
The investment values Reliance Retail at a pre-money equity value of ₹ 4.285 lakh crore. Mubadala’s investment will translate into a 1.40% equity stake in RRVL on a fully diluted basis. The transaction is, however, subject to regulatory and other customary approvals.
This marks the second significant investment by Mubadala in a Reliance Industries subsidiary after the $1.2 billion investment in Jio Platforms announced earlier this year. Reliance Retail’s vision is to galvanise the Indian retail sector through an inclusive strategy that empowers millions of farmers and micro, small and medium enterprises. Working closely with global and domestic companies as a preferred partner, it aims to deliver immense benefits to Indian society, while protecting and generating employment for millions of Indians.
Reliance Retail, through its new commerce strategy, has started a transformational digitalisation of small and unorganised merchants and is committed to expanding the network numbering over 20 million businesses, giving them access to technology tools and efficient supply chain infrastructure that deliver superior value to their customers.
“I am happy to welcome Mubadala as a valued investor in Reliance Retail Ventures. We value the partnership with a knowledge-rich organisation like Mubadala and acknowledge their confidence in our mission to strengthen the core of India’s retail sector – the millions of small retailers, merchants and shopkeepers – through the power of technology. Mubadala’s investment and guidance will be invaluable support in this journey,” said Mukesh Ambani, chairman and managing director of Reliance Industries.
As Mubadala will invest AED 3.1 billion in Reliance Retail Ventures Limited, Khaldoon Al Mubarak, managing director and group CEO, Mubadala Investment Company, added, “We are pleased to deepen our relationship with Reliance Industries through this investment in Reliance Retail Ventures. Their vision is the inclusive transformation of India’s consumer economy through the power of digitization, creating opportunities and market access for millions of small businesses across the country, and we are committed to supporting the company’s continuing development.”
How much technology is too much technology? Tech has inevitably become asApril 15, 2021 | By Shruthi Nair
According to a report by the United Nations, the fashion industry accountsFebruary 18, 2021 | By Shruthi Nair
UAE-based Carrefour announced its theme and plans for Ramadan 2021. The brand
Locally owned supermarket Spinneys celebrates 60 years of doing business in the
UAE-based Carrefour will become the first retailer in the region to offer new levels
The Organic Farmers’ Market is back in Bay Avenue for its 12th
UAE-based Lulu Group recently inaugurated its first-ever all-female staff store in Jeddah,
Jones the Grocer, the gourmet grocer and cheese retailer launches the Jones
UAE-based Al Maya Supermarkets is hosting a two-week food festival at select
Locally-owned supermarket Spinneys has launched its ‘Power of Plants’ initiative in the
Carrefour UAE has launched “Cookit Yourself” — a curated recipe box created
UAE-based Al Islami Foods, one of the largest frozen food companies in
Marks & Spencer’s plant-based range now offers over 25 vegan products including meat-free
World’s largest fully integrated online brand in fresh fish and meat e-commerce
Who isn’t a sucker for discounts? Customers today are spoiled for choice
The various e-commerce and virtual retail stores that cater to different product
A private helicopter carrying the chairman and managing director of Lulu Group,
According to a new report by GlobalData, the penetration of online sales
In a 180-degree turn from 2020, retailers’ expansion plans are outpacing plans
Research by GlobalData found that eBay’s job postings in the US and
London based luxury retail and branding experts, House of Luxury (HOL), is celebrating their
Data presented by Fraîcheur Paris indicates that beauty products accounted for 22% of the
Tighter restrictions on hotels, restaurants, shopping malls and entertainment venues on account of
British fast-fashion retailer Primark says it has no plans to sell its
All hotels and restaurants have been directed to temporarily hold entertainment activities
The new Dubai Gold Souk is “very much on track”, according to