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Reliance Industries on Wednesday said it has received Rs 8,278 crore from Qatar Investment Authority (QIA) for around 1 per cent stake in Reliance Retail Ventures Ltd (RRVL), the retail arm of billionaire Mukesh Ambani-led group. As per the deal, it has allotted 6.86 crore equity shares to QIA of RRVL, which is the leading retailer in the country, said a regulatory filing from Reliance Industries Ltd (RIL). "Reliance Retail Ventures Ltd today received the subscription amount of Rs 8,278 crore from Qatar Holding LLC (QIA) and allotted 6,86,35,010 equity shares to QIA," said RIL. The investment is made by QIA's wholly-owned subsidiary into India's largest retailer at a valuation of Rs 8.278 lakh crore (USD 100 billion). Earlier on August 23, RIL had announced divesting 1 per cent stake in RRVL to QIA for a consideration of Rs 8,278 crore (USD 1 billion). Updating about the development, Reliance Industries had said: "QIA's investment will translate into a minority equity stake of 0.9
The Competition Commission of India (CCI) on Thursday said it has approved the proposed investment by Qatar Investment Authority in BTS Investment 1 Pte (BTS1), a Singapore-based pooled vehicle. QIA is a sovereign wealth fund of the State of Qatar, while BTS1 is an investment venture firm of James Murdoch's Lupa Systems and ex-chairman of Star and Disney India Uday Shankar. The proposed transaction relates to the proposed investment by Qatar Investment Authority in BTS1, which is raising capital from various investors for its investment in Viacom18, CCI said. Last year in February, Murdoch and Shankar announced the formation of the firm, Bodhi Tree Systems (BTS) raising up to USD 1.5 billion from QIA. Thereafter, in April, BTS said that it will invest Rs 13,500 crore in broadcaster Viacom18 as part of a tripartite partnership with billionaire Mukesh Ambani's Reliance, to form one of the largest TV and digital streaming firms in India. In September 2022, fair-trade regulator CCI on