Mumbai, Doha - August 23, 2023: Qatar Investment Authority (QIA) has announced today an investment of ₹ 8,278 crore (approx. $1bln) into Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries Limited (Reliance Industries). QIA’s investment will translate into a minority equity stake of 0.99% in RRVL on a fully-diluted basis.

RRVL, through its subsidiaries and associates, operates India's largest, fastest growing, and most profitable retail business with a network of over 18,500 stores and digital commerce platforms across grocery, consumer electronics, fashion & lifestyle, and pharma. 

Ms Isha Mukesh Ambani, Director, Reliance Retail Ventures Limited, said, “We are delighted to welcome QIA as an investor in the Reliance Retail Ventures Limited. 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 transformation of the Indian retail sector. The investment by QIA is a strong endorsement of a positive outlook towards Indian economy and Reliance’s retail business model, strategy and execution capabilities.”

Mansoor Ebrahim Al-Mahmoud, CEO, QIA, 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.”

This investment in Reliance Retail is demonstration of QIA’s diversified approach to global investment and confidence in India’s fast-growing economy. India’s growth trajectory and national focus on innovation aligns with QIA’s investment approach to support companies in India with high-growth potential. Recent investments from QIA in India have included companies in the technology, media and telecoms sector, retail sector, and in green energy investments. 

RRVL’s vision is to galvanize the Indian retail sector through an inclusive strategy serving millions of customers, empowering micro, small and medium enterprises (MSMEs) and working closely with global and domestic companies as a preferred partner, to deliver immense benefits to Indian society, while protecting and generating employment for millions of Indians.