Singapore's GIC to invest Rs 5,512.5 crore in Reliance Retail Ventures

Singapore's sovereign wealth fund GIC will invest Rs 5,512.5 crore ($752.08 million) in Reliance Industries' retail arm Reliance Retail Ventures Limited (RRVL), the company said on Saturday.
 

GIC's investment will translate into a 1.22% equity stake in Reliance Retail on a fully diluted basis.
 

“It gives me great pleasure to welcome GIC to the Reliance Retail family. I am delighted that GIC, with its track record of close to four decades of successful long-term value investing across the world, is partnering with Reliance Retail in its mission to transform the Indian retail landscape. GIC's global network and track record of