Qatar Investment Authority (QIA), the sovereign wealth fund of Qatar, has agreed to invest USD 1.1 billion in Reliance Retail Ventures Limited (RRVL), for 0.99 per cent stake. The investment values RRVL at a pre-money equity value of USD 111 billion.
RRVL is India's largest retail company, with over 18,500 stores across the country. It operates a wide range of businesses, including supermarkets, hypermarkets, convenience stores, specialty stores, and online retail.
The investment by QIA is a vote of confidence in the Indian retail sector and in the growth prospects of RRVL. It is also a sign of the growing interest of global investors in the Indian economy.
RRVL plans to use the investment to expand its business, both organically and inorganically. It is also looking to enter new businesses, such as e-commerce and financial services.
The investment by QIA is a major milestone for RRVL and is expected to help it accelerate its growth and become a global leader in retail.