Abu Dhabi Investment Authority (ADIA) is reportedly looking to invest $600 million in Mukesh Ambani’s retail empire, Reliance Retail Ventures (RRVL), at valuations significantly higher than those in the previous round three years ago. ADIA already holds a 1.2% stake in RRVL, alongside other investors such as KKR and Qatar. The current valuation is about 60% higher than the last round but lower than analysts’ estimated value of $131 billion. RRVL, with a market value of $100 billion, is the 12th largest retail giant globally. Reliance Retail posted annual revenue of INR 2.6 trillion ($35 billion) in FY23.
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