Qatar Investment made big investment in Reliance Retail, Mukesh Ambani bought stake in Alia Bhatt’s company
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Indian industrialist Mukesh Ambani (Mukesh Ambani) owned by Reliance Industries (Reliance Industries) of Reliance Retail (Reliance Retail) stake Qatar Investment Authority (Qatar Investment Authority) has bought. It is being told that the Qatar Investment Authority has bought about one percent stake in Reliance. In this regard, Reliance Industries said that it has received Rs 8,278 crore from Qatar Investment Authority (QIA) in lieu of acquisition of stake in its retail unit Reliance Retail Ventures Limited (RRVL). Under this deal, Reliance has allotted 6.86 crore shares of the country’s leading retailer firm RRVL to Qatar’s government investment fund QIA.
Company allotted 6,86,35,010 shares
Reliance Industries said in a notice to the stock exchanges that Reliance Retail has received a purchase amount of Rs 8,278 crore from QIA and has allotted 6,86,35,010 shares to QIA’s subsidiary Qatar Holding LLC. This investment has been made by Qatar Holding, a wholly owned unit of QIA. The value of this deal was one billion dollars i.e. 8,278 crore rupees. On August 23, Reliance Industries announced the sale of one per cent stake in Reliance Retail. Mukesh Ambani had also informed about this in the AGM of Reliance.
Reliance Retail buys majority stake in Alia Bhatt promoted kids brand Add-a-Mamma
Reliance Retail has acquired 51 per cent stake in Aid-a-Mamma, a kids and maternity clothing brand promoted by actress Alia Bhatt. Reliance Retail Ventures Limited (RRVL), the retail operations arm of industrialist Mukesh Ambani’s Reliance Industries Limited (RIL), said in a statement that it aims to take the brand Add-a-Mamma on a dynamic growth path. The two companies said in a joint statement that it will closely collaborate with founder Alia Bhatt and leverage the management strength of its subsidiary Reliance Brands Ltd to grow the business. RRVL has signed a joint venture (JV) with Alia Bhatt’s brand Add-a-Mamma for kids and maternity wear to acquire a 51 per cent majority stake, the statement said. The company said that Add-a-Mamma was founded by Alia Bhatt in 2020 as an apparel brand for children aged 2-12 years. Last year, it also added maternity wear to its range.
Many leading global strategic and financial investors are showing interest: Ambani
Mukesh Ambani, chairman of Reliance Industries Limited (RIL), told in the AGM that many global strategic and financial investors are showing great interest in Reliance Retail. Reliance Retail has recently raised one billion dollars from Qatar’s government agency. He pointed out that had it been listed based on current valuations, the retail venture would have been among the top four listed entities. Addressing the shareholders of Reliance Industries, Ambani had said that the valuation of Reliance Retail has doubled in less than three years and its pace of value creation is unmatched even globally. Many leading global strategic and financial investors have shown considerable interest in Reliance Retail. I will update you on our progress with them at the appropriate time.
Valuation doubled in less than three years
Qatar Investment Authority (QIA) recently acquired about one per cent stake in Reliance Retail Venture Limited (RRVL) by investing Rs 8,278 crore ($1 billion) at a valuation of $100 billion. Ambani said that its valuation has doubled in less than three years. Ambani said that just for reference, during our fund raising in September 2020, the valuation of our retail business was Rs 4.28 lakh crore. In less than three years, its valuation has almost doubled despite the Kovid-19 global pandemic. He said that based on this valuation, had Reliance Retail been listed, it would have been among the top four companies in India and among the top 10 retailers globally.
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