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Sovereign wealth funds plan to acquire stake in Reliance Industries

Reliance Industries Sovereign wealth funds_GBO_Image

RRVL is looking to sell 15 percent stake to foreign private equity firms and strategic investors to raise almost RS 800 billion

The Gulf region’s Sovereign wealth funds (SWFs) and global investors are keen to partner or invest in India’s Reliance Industries, media reports said. The Indian company’s arm JIO has raised funds worth Rs1.52 trillion from foreign venture capitalists.

It is reported that SWFs such as Mubadala Investment, the Abu Dhabi Investment Authority (Adia) and Saudi Arabia’s Public Investment Fund (PIF) including state investment funds from these countries are in talks with Reliance Retail Ventures (RRVL), an arm of Reliance Industries.

Companies such as L Catterton, KKR, Carlyle Group and SoftBank are also planning to acquire stakes in the Indian company. These companies have already injected capital into the JIO platforms.

It is reported that RRVL is looking to sell a 15 percent stake to foreign private equity firms and strategic investors to raise almost RS 800 billion.

Many of the foreign funds are already in talks to ink a deal valuing RRVL at Rs 4.2 trillion. Jio platforms is valued at Rs 4.91 trillion in which 13 investors altogether picked up 32.97 percent stake in the company.

Reliance Industries which has been one of the most valuable companies in Southeast Asia has recently taken over Future Group for Rs 247.13 billion.

It is reported that Mubadala is eyeing to invest $750 million in Reliance Retail, while Adia is also planning a similar kind of investment and PIF could invest $1.5 billion.

Reliance Industries is planning to sell a roughly $20 billion stake in the retail business to Amazon.com.

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