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The Times of India
The Times of India
Business
Bloomberg

Qatar wealth fund invests $1 billion in Reliance Retail Ventures

Reliance Retail Reliance Mukesh Ambani Qatar Isha Ambani India Mumbai Asia QIA

MUMBAI: Qatar’s sovereign wealth fund invested 82.78 billion rupees ($1 billion) into the rapidly growing retail business owned by Asia’s richest man Mukesh Ambani, as India’s biggest brick-and-mortar retailer looks to expand its operations.

The Qatar Investment Authority purchase translates into a stake of 0.99% in Reliance Retail Ventures Ltd “on a fully-diluted basis,” the Mumbai-based firm said in a statement on Wednesday, adding that it values the company at $100 billion.

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