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Isha Ambani's Reliance Retail to raise nearly Rs 5,000 crore from Abu Dhabi's ADIA

IndianStartupNews

IndianStartupNews · 1y ago

Isha Ambani's Reliance Retail to raise nearly Rs 5,000 crore from Abu Dhabi's ADIA

Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries Limited, will receive an investment of approximately $597 million (Rs 4,966.80 crore) from Abu Dhabi Investment Authority (ADIA). The investment will convert into a 0.59% equity stake in RRVL. This follows Reliance Brands Limited's recent acquisition of Superdry's Asia assets and is part of Reliance Retail's strategy to transform the Indian retail sector. ADIA's investment is a testament to their belief in the Indian economy and Reliance Retail's growth potential.

Related News

ADIA may infuse $600 million in Mukesh Ambani's Reliance Retail

Livemint

Livemint · 1y ago

ADIA may infuse $600 million in Mukesh Ambani's Reliance Retail

The Abu Dhabi Investment Authority (ADIA) is reportedly considering investing $600 million in Reliance Retail, owned by Mukesh Ambani. ADIA has already invested in Reliance Retail Ventures, acquiring a 1.2% stake in 2020. This potential investment comes after Reliance Retail received significant investments from global firms such as KKR and Qatar Investment Authority earlier this year. Reliance Retail has been expanding its business through acquisitions and franchise rights, with a network of over 18,500 stores and digital platforms across various sectors.

Indian billionaire Ambani's Reliance Retail to raise $598 mln from ADIA

Reuters · 1y ago

Indian billionaire Ambani's Reliance Retail to raise $598 mln from ADIA

Abu Dhabi Investment Authority (ADIA) is set to invest 49.67 billion rupees ($597.58 million) in Reliance Retail Ventures, the retail unit of Reliance Industries owned by Indian billionaire Mukesh Ambani. The investment will give ADIA a 0.59% stake in the company at a valuation of $100.8 billion. This comes as Reliance Retail has been attracting investments from other entities like KKR & Co and Qatar Investment Authority, as it competes with Amazon and Flipkart.

India's Reliance Retail in $1.5 bln Gulf, Singapore funds talks -sources

Reuters · 1y ago

India's Reliance Retail in $1.5 bln Gulf, Singapore funds talks -sources

Reliance Retail, India's largest retailer, is reportedly in discussions with existing investors, including Singapore's GIC, Abu Dhabi Investment Authority (ADIA), and Saudi Arabia's Public Investment Fund (PIF), for combined new investments totaling around $1.5 billion. This initiative is part of Reliance's goal to raise $3.5 billion by the end of September. The investors are looking to invest at least $500 million each in Reliance Retail at a valuation of $100 billion. Reliance Retail has witnessed significant growth and expansion in recent years, with investments from various stakeholders.

Ambani's Reliance fielding Chinese giant to heat up retail showdown

Economic Times

Economic Times · 6m ago

Ambani's Reliance fielding Chinese giant to heat up retail showdown

Reliance Retail has launched a Shein app in India, reviving the Chinese fast fashion brand after its 2020 ban. This move heats up competition in India's booming fast fashion market, projected to exceed $50 billion by FY31. Shein's global rise is marked by aggressive discounting and influencer marketing, despite facing labor controversies. Under Isha Ambani's guidance, Shein returns as a technology provider, with Reliance ensuring compliance with local regulations and data security.

India's Reliance appoints Isha, Akash and Anant Ambani to board

Reuters · 1y ago

India's Reliance appoints Isha, Akash and Anant Ambani to board

Reliance Industries appointed Mukesh Ambani's children, Isha, Akash, and Anant, as board directors in a move signaling a leadership transition. Mukesh Ambani, Asia's richest person, aims to prepare the next generation for leadership roles. The conglomerate, spanning telecoms, retail, oil, and new energy, has a market value of over $200 billion. The appointments aim to avoid internal discord and ensure unity among the Ambani siblings. Nita Ambani, Mukesh's wife, stepped down from the board to focus on strengthening the company's charity arm. Akash, Isha, and Anant Ambani hold various roles within Reliance's diverse businesses.

Purplle Snags $100 Mn From ADIA, Others With Eye On More Offline Stores

Inc42 · 1y ago

Purplle Snags $100 Mn From ADIA, Others With Eye On More Offline Stores

Abu Dhabi's sovereign fund ADIA has led a funding round for beauty ecommerce marketplace Purplle, contributing $100 million. The investment from ADIA, alongside participation from new investor Creaegis, valued Purplle at $1.2-1.3 billion, a 15% increase from its previous funding round in 2020. Purplle, founded in 2012, sells beauty products and appliances, and this new funding will support its growth and expansion in the Indian market.

Warburg Pincus, ADIA to invest $877 mn in IDFC First Bank

VCCircle

VCCircle · 3m ago

Warburg Pincus, ADIA to invest $877 mn in IDFC First Bank

Warburg Pincus and the Abu Dhabi Investment Authority (ADIA) will invest $877 million in India's IDFC First Bank. The investment involves a preferential issue of equity capital, with Warburg Pincus contributing Rs 4,876 crore and ADIA Rs 2,624 crore, pending shareholder and regulatory approvals. This funding will enhance the bank's capital adequacy from 16.1% to 18.9%, supporting its growth and profitability in the Indian banking sector.

Adani Enterprises in talks with Gulf-based sovereign funds to raise $2 billion through QIP: Report | Mint

Livemint

Livemint · 10m ago

Adani Enterprises in talks with Gulf-based sovereign funds to raise $2 billion through QIP: Report | Mint

- Adani Enterprises is in discussions to raise $2 billion through a qualified institutional placement (QIP) with investors including ADIA, QIA, and GQG. - The institutional share sale is expected to be launched by the end of October. - The funds raised through the QIP will be used for capital expenditure and to repay debt of the company and its subsidiaries. - Adani Energy Solutions raised nearly $1 billion through QIP, with participation from GQG, Blackrock, Nomura, ADIA, QIA, and domestic mutual funds. - Adani Group plans to raise ₹30,000-₹40,000 crore from retail investors through non-convertible debentures (NCD) to diversify funding sources.

Abu Dhabi's ADIA explores investment in India's Pocket FM, sources say

TechCrunch · 1y ago

Abu Dhabi's ADIA explores investment in India's Pocket FM, sources say

Abu Dhabi's sovereign wealth fund, ADIA, is holding talks to back Indian audio-storytelling platform Pocket FM in a new funding round. Pocket FM recently secured around $100 million in funding from Lightspeed Venture Partners. The talks with ADIA have been ongoing for over a month and are currently confidential. Pocket FM has seen rapid revenue growth and aims to reach an annualized revenue run rate of $100 million by the end of 2023. Pocket FM offers a freemium model, allowing users to pay for the content they prefer rather than the entire library.

Mukesh Ambani's wife Nita Ambani resigns from Reliance Industries board

IndianStartupNews

IndianStartupNews · 1y ago

Mukesh Ambani's wife Nita Ambani resigns from Reliance Industries board

Nita Ambani, the wife of billionaire Mukesh Ambani, has resigned from the board of Reliance Industries to focus more on the Reliance Foundation. In her place, Isha Ambani, Akash Ambani, and Anant Ambani will be appointed as non-executive directors of the company. Nita Ambani's leadership of Reliance Foundation was acknowledged by the board, and she will continue attending RIL board meetings as a permanent invitee. The Ambani children have been actively involved in and leading various RIL businesses and subsidiaries.

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