Mukesh Ambani’s Reliance Retail Ventures Limited (RRVL) a subsidiary of Reliance Industries Limited (RIL), today announced that The Public Investment Fund of Saudi Arabia will invest Rs 9,555 crore in the company for an equity stake of 2.04%. This will be the second such investment by The Public Investment Fund (PIF) in a subsidiary of RIL this year. The investment values RRVL at a pre-money equity value of Rs 4.587 lakh crore. Other investments into RRVL, so far this year, have come in at an equity value of Rs 4.28 lakh crore.
The retail unit of Mukesh Ambani’s RIL empire has so far sold 8.22% equity stake to eight other investors, excluding PIF, for Rs 37,710 crore. PIF had earlier this year invested Rs 11,400 crore in the digital…