Shares of Reliance Industries Ltd on Wednesday gained over 4 per cent after Reliance Retail Ventures Ltd raised Rs 5,512.50 crore from Abu Dhabi Investment Authority (ADIA). The stock jumped 4.49 per cent to Rs 2,309.40 on the BSE.
At the NSE, it rose by 4.46 per cent to Rs 2,309. Reliance Retail Ventures Ltd, run by India’s richest man Mukesh Ambani, on Tuesday raised Rs 5,512.50 crore from Abu Dhabi Investment Authority (ADIA), taking the total fundraise to Rs 37,710 crore in less than four weeks.
“ADIA’s investment will translate into a 1.20 per cent equity stake,” the Indian firm said in a statement. The investment values RRVL, the retail arm of Reliance Industries Ltd, at a pre-money equity value of Rs 4.285 lakh crore.
“With this investment, RRVL has raised Rs 37,710 crore from leading global investors including Silver Lake, KKR, General Atlantic, Mubadala, GIC, TPG and ADIA in less than four weeks,” the statement said.
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