Gulf funds are kind to India and Asia’s richest man Mukesh Ambani these days. Ambani’s companies are getting investments from top Gulf funds one after the other. Recently investment came from Qatar. Now another top fund of Gulf countries can make a big investment in Ambani’s company.
This fund is preparing to invest again
According to an ET report, this fund Abu Dhabi Investment Can come from authority (ADIA). The authority plans to make additional investments in Mukesh Ambani’s retail venture Reliance Retail. According to the news, this time Abu Dhabi Investment Authority is preparing to invest about 600 million dollars (about Rs 5000 crore) in Reliance Retail. This deal can be done at a premium valuation.
Had also invested 3 years ago
This is not the first time that Abu Dhabi Investment Authority is investing money in Ambani’s retail company. Abu Dhabi Investment Authority already has a stake in Reliance Retail Ventures Limited. The authority had also invested in Reliance Retail in October 2020. At that time, Reliance Retail had raised Rs 47,265 crore by selling 10.09 percent stake. Investors in that funding round included names like Saudi’s PIF, Mubadala, Singapore’s GIC, Silverlake, TPG and GA. When ADIA also invested about Rs 5,500 crore in exchange of 1.2 percent shares.
The value of Reliance Retail has become this much
Reliance Retail is not yet listed in the market. The valuation of this private company has continuously increased. Many analysts have estimated the value of the company at 100 to 150 billion dollars. While Reliance Industries itself had estimated the valuation at $148 billion in July, Ernst & Young had pegged the valuation at $93 billion and BDO Valuation Advisory at $97 billion. In the May estimate of analysts at AllianceBernstein, the value was estimated at $ 131 billion.
Entry among top companies by valuation
In the latest funding round, Reliance Retail has already got Rs 1 billion from Qatar. Dollar investment has been received. Before that, KKR had made a new investment of about Rs 2000 crore at a valuation of $ 100 billion. If we look at the valuation, this company of Mukesh Ambani has now become one of the top retail companies not only in the country but also in the world.
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