 "A comparative study by UBS, however, indicates that Reliance Retail is likely to emerge as the sector leader, while its closest competitor Avenue Supermarts (DMart) might fail to capitalise on the digital opportunities arising from social distancing")
Oil-to-telecom conglomerate Reliance Industries is steadily working on expanding its footprint in the retail sector. On Tuesday, Abu Dhabi Investment Authority (ADIA) became the eighth investor in Reliance Retail Ventures, agreeing to pick 1.2 per cent equity stake in the company for Rs 5,512.5 crore.
ADIA joins the league of Silver Lake, KKR, General Atlantic, Mubadala Investment Company, GIC, and TPG who have cumulatively invested Rs 37,710 crore for 8.48 per cent stake.
Mukesh Ambani-owned Reliance Industries shifted gears in August this year, when it agreed to buy Kishore Biyani-promoted Future Group as going concerns on a slump sale basis
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