Saudi Arabia’s Public Investment Fund invests ₹9,555 crore in Reliance Retail

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.

Source: Read Full Article