 "reliance, RIL, retail")
Shares of Reliance Industries (RIL) rose 3 per cent to Rs 2,013.75 on the BSE on Friday after the company said that Saudi Arabia’s Public Investment Fund (PIF) will invest Rs 9,555 crore ($1.29 billion) for 2.04 per cent equity stake in its retail arm.
“This investment values Reliance Retail Ventures (RRVL) at a pre-money equity value of Rs 4.587 trillion ($62.4 billion). This investment would further strengthen PIF’s presence in India’s dynamic economy and promising retail market segment,” RIL said in media release.
The PPF has signed definitive documentation to acquire a 2.04 per cent equity stake
“This investment values Reliance Retail Ventures (RRVL) at a pre-money equity value of Rs 4.587 trillion ($62.4 billion). This investment would further strengthen PIF’s presence in India’s dynamic economy and promising retail market segment,” RIL said in media release.
The PPF has signed definitive documentation to acquire a 2.04 per cent equity stake
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