FMCG, RetailNews Snippets

PIF Invests Rs. 9,555 Cr in RRVL for 2.04% Equity

Reliance Retail Ventures Limited (RRVL), which is a wholly-owned subsidiary of Mukesh Ambani’s Reliance Industries Ltd announced an investment of Rs. 9,555 crore by sovereign Saudi wealth fund, Public Investment Fund (PIF) in RRVL.

The transaction will translate into a 2.04% equity stake in RRVL. As per Reliance Industries Limited press release dated 5th Nov 2020 “This investment values RRVL at a pre-money equity value of ₹ 4.587 lakh crore“.

Earlier in June 2020, PIF had announced an investment of Rs. 11,367 crore in Jio Platforms. PIF’s investment translated into a 2.32% equity stake in Jio Platforms.