Qatar Investment Authority (QIA) has invested $1 billion into Reliance Retail Ventures Limited (RRVL), a subsidiary of the Indian multinational conglomerate, Reliance Industries Limited.
QIA’s investment will translate into a minority equity stake of 0.99 percent in RRVL on a fully diluted basis. RRVL, through its subsidiaries and associates, operates India’s largest, fastest-growing, and most profitable retail business with a network of over 18,500 stores and digital commerce platforms across grocery, consumer electronics, fashion & lifestyle, and pharma.
Mansoor Bin Ebrahim Al Mahmoud CEO – QIA
“QIA is committed to supporting innovative companies with high-growth potential in India’s fast-growing retail market. We are looking forward to Reliance Retail Ventures Limited, with its strong vision and impressive growth trajectory, joining our growing and diverse portfolio of investments in India.”
Ms. Isha Mukesh Ambani, Director, of Reliance Retail Ventures Limited, said that “We are delighted to welcome QIA as an investor in Reliance Retail Ventures Limited. We look forward to benefitting from QIA’s global experience and strong track record of value creation as we further develop Reliance Retail Ventures Limited into a world-class institution, driving the transformation of the Indian retail sector. The investment by QIA is a strong endorsement of a positive outlook towards the Indian economy and Reliance’s retail business model, strategy and execution capabilities.”
This investment in Reliance Retail is a demonstration of QIA’s diversified approach to global investment and confidence in India’s fast-growing economy. India’s growth trajectory and national focus on innovation align with QIA’s investment approach to support companies in India with high-growth potential. Recent investments from QIA in India have included companies in the technology, media and telecoms sector, retail sector, and in green energy investments.
RRVL’s vision is to galvanize the Indian retail sector through an inclusive strategy serving millions of customers, empowering micro, small and medium enterprises (MSMEs) and working closely with global and domestic companies as a preferred partner, to deliver immense benefits to Indian society, while protecting and generating employment for millions of Indians.
