Sovereign wealth funds bullish on RRVL as valuation doubles in three years

RIL retail arm in talks with global investors to raise $2.5-3 billion

Reliance Retail Ventures Ltd (RRVL), which is looking to raise $2.5-3 billion from global investors ahead of a potential listing on the stock exchanges, has become a hot favourite of sovereign wealth funds (SWFs) with its valuation doubling in the last three years.

Last month, the Qatar Investment Authority (QIA) picked up a 0.99 per cent stake in RRVL for $1 billion, valuing the retail arm of Reliance Industries at $100 billion (about Rs 8.3 trillion). The latest valuation is almost double the value at which four sovereign funds had invested in the company in 2020.

According to sources, RRVL