Qatar Investment Authority will invest $1 billion for a 1% stake in India’s Reliance Retail Ventures, the retail arm of billionaire Mukesh Ambani’s Reliance Industries (RELI.NS), nearly doubling its valuation to $100 billion from its last funding round in 2020.
Reliance Retail, India’s largest retailer, has been partnering with a slew of global brands like Burberry, Pret A Manger and Tiffany to launch and expand their presence in India.
It last raised about 472.65 billion rupees ($5.72 billion)from more than half a dozen investors, including KKR and General Atlantic, the Saudi Public Investment Fund and the UAE’s Mubadala in 2020.
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