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in Economy

Mukesh Ambani’s Reliance Retail Ventures to raise $598 million from ADIA

by Editor October 6, 2023, 4:23 pm 1.2k Views

Indian billionaire Mukesh Ambani’s Reliance Retail Ventures said on Friday Abu Dhabi Investment Authority would invest 49.67 billion rupees ($597.58 million) in the company at a valuation of $100.8 billion.

The investment by ADIA will translate into a stake of 0.59% in the company, the retail unit of oil-to-retail conglomerate Reliance Industries said in a regulatory filing.

Reliance Retail, which has more than 18,000…

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