Mumbai: Reliance Retail Ventures Ltd on Wednesday announced that Qatar Investment Authority, through a wholly-owned subsidiary, will invest Rs 8,278 crore into RRVL, a subsidiary of Reliance Industries Limited. This investment values RRVL at a pre-money equity value of Rs 8.278 lakh crore.

Mumbai: Reliance Retail Ventures Ltd on Wednesday announced that Qatar Investment Authority, through a wholly-owned subsidiary, will invest
Rs 8,278 crore into RRVL, a subsidiary of Reliance Industries Limited. This investment values RRVL at a pre-money equity value of Rs 8.278
lakh crore.

RRVL, through its subsidiaries and associates, operates India's largest, fastest-growing, and most profitable retail business serving 267 million loyal customers with an integrated omnichannel network of over 18,500 stores and digital commerce platforms across grocery, consumer electronics, fashion & lifestyle, and pharma consumption baskets.

QIA’s investment will translate into a minority equity stake of 0.99% in RRVL on a fully diluted basis.

The previous fund-raise round by RRVL in 2020 from various global investors of an aggregate amount of Rs 47,265 crore was done at a
pre-money equity value of Rs 4.21 lakh crore.

Reliance Retail Ventures Ltd Director Isha Mukesh Ambani said, “We are delighted to welcome QIA as an investor in Reliance Retail Ventures
Ltd. We look forward to benefitting from QIA’s global experience and strong track record of value creation as we further develop Reliance
Retail Ventures Limited into a world-class institution, driving the transformation of the Indian retail sector.

“The investment by QIA is a strong endorsement of a positive outlook towards the Indian economy and Reliance’s retail business model,
strategy and execution capabilities.”

QIA CEO Mansoor Ebrahim Al-Mahmoud said, “QIA is committed to supporting innovative companies with high-growth potential in India’s
fast-growing retail market. We are looking forward to Reliance Retail Ventures Limited, with its strong vision and impressive growth trajectory, joining our growing and diverse portfolio of investments in India.”