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in Fashion

UAE’s ADIA to Buy Stake in Ambani’s Retail Unit for $597 Million

by Editor October 9, 2023, 4:58 pm 2k Views

India’s Reliance Launches First In-House Premium Fashion Store

Abu Dhabi Investment Authority agreed to buy an additional stake in Indian billionaire Mukesh Ambani’s rapidly expanding retail unit for 49.7 billion rupees ($597 million).

ADIA will acquire a 0.6 percent stake in closely-held Reliance Retail Ventures Ltd, according to an exchange filing late Friday from parent Reliance Industries Ltd. The transaction values India’s largest retailer at pre-money equity value of 8.38 trillion rupees, the…

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