Abu Dhabi Investment Authority to invest over $750 mln in Reliance Retail
Global Economy
06 October, 2020, 07:25 pm
Last modified: 06 October, 2020, 07:35 pm
ADIA's investment will translate into a 1.20 percent equity stake in Reliance Retail on a fully diluted basis
FILE PHOTO: A woman walks past a poster of Reliance Industries installed outside the venue of the company's annual general meeting in Mumbai June 7, 2012. REUTERS/Vivek Prakash/File Photo
Abu Dhabi Investment Authority (ADIA) will invest 55.13 billion rupees ($751.13 million) in Reliance Industries' retail arm, giving the unit a pre-money equity value of 4.29 trillion rupees, the Indian conglomerate said on Tuesday.
ADIA's investment will translate into a 1.20 percent equity stake in Reliance Retail on a fully diluted basis.
($1 = 73.3960 Indian rupees)
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