Abu Dhabi’s wealth fund, Mubadala Investment Company is very much interested in the Mukesh Ambani-led retail division Reliance Retail Ventures Limited.
An investment anywhere between $500 Million to $1 Billion in RRVL is an advanced talk. Abu Dhabi’s second-biggest investor is looking to expand its portfolio in Asia.
Abu Dhabi’s monarch opulence fundraiser, Mubadala Investment Company, has invested $1.2 Billion in JIO platforms previously and is ready to invest up to $1 Billion in Reliance Retail arm soon.
Mubadala has currently declined to comment and a representative, from the Mukesh Ambani-led Reliance, has neither confirmed nor denied any evaluations or transactions based on the investments.
Reliance Retail business has over 12, 000 stores spread across the country selling ranges of products. Investors have cascaded more than $20 Billion in the JIO platform picking up stakes from the retail arm.
Overindulgence of major streams of investments from KKR and Silver Lake Partners have increased the investments by various other investors.
US-based KKR has invested $754 Million for a stake of 1.28 % while Silver Lake has invested $1 Billion in the same.
Altogether RRVL has raised $1.8 Billion attracting other investors for future investments.
General Atlantic has also expressed their interest in RRVL. They have invested Rs.4.285 Lakh Crores relating to a 20.84% equity stake.
“Like Reliance Retail, General Atlantic believes in the fundamental ability of digital enablement to drive progress on growth and inclusion across India and the world. We look forward to leveraging general Atlantic extensive expertise at the intersection of technology and consumer business and two decades of experience investing in India as we create a disruptive new commerce platform to redefine retail in the country” said Mukesh Ambani.
Bill Ford, Chief Executive Officer of General Atlantic is galvanized after their second investment in Reliance Industries. The first investment of Rs.659 8.38 Crore in the JIO platforms earlier this year has resulted in a remarkable understanding and trust between the companies.
“General Atlantic is thrilled to be backing Mukesh Ambani’s new commerce mission to drive substantial positive charge in the country is the retail sector which goes hand in hand with his vision to enable digital India through the work of the platforms. General Atlantic shares Reliance Industries foundational believe, in the power of technology, to Foster a transformative growth and we are excited by the immense potential of the full Reliance ecosystem. We are on it again be partnering with the Reliance team to meaningful accelerate India’s position in the global digital economy“ said Bill Ford in a statement.