Abu Dhabi’s Mubadala invests Rs 6,247.5 cr. in Reliance Retail

TIL Desk/Business/Mumbai/ Abu Dhabi-based sovereign wealth fund Mubadala Investment Co will invest Rs 6,247.5 crore to buy a 1.4 per cent stake in Reliance Industries Ltd’s retail arm — the billionaire Mukesh Ambani-led firm’s third such deal in less than two days. Mubadala will be the fourth investor in Reliance Retail Ventures Ltd (RRVL).

Mubadala’s Rs 6,247.5 crore investment “values Reliance Retail at a pre-money equity value of Rs 4.285 lakh crore,” the Indian firm said in a statement. “Mubadala’s investment will translate into a 1.40 per cent equity stake in RRVL on a fully diluted basis,” it added. On Wednesday, global private equity firm General Atlantic picked up a 0.84 per cent stake in the company for Rs 3,675 crore.

Also, US PE investor Silver Lake made a second investment of Rs 1,875 crore, taking its total fund infusion in Reliance Retail to Rs 9,375 crore for a 2.13 per cent stake. KKR had previously taken a 1.28 per cent stake in the firm for Rs 5,550 crore. Reliance has since September raised Rs 24,847.5 crore by selling 5.65 per cent in its retail arm.