PIF will take a 2.04% stake in RRVL
Billionaire Mukesh Ambani-led Reliance Industries Ltd’s retail arm on Thursday raised ₹9,555 crore from Public Investment Fund (PIF) of Saudi Arabia, taking total fundraise in last two months to ₹47,265 crore.
PIF will take a 2.04% stake in Reliance Retail Ventures Ltd (RRVL), the Indian firm said in a statement.
The investment values RRVL, the retail arm of Reliance Industries Ltd, at a pre-money equity value of ₹4.58 lakh crore.
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