October 6, 2023
Abu Dhabi Investment Authority is investing $597 million in Reliance Retail, valuing the largest Indian retail chain at a whopping $100 billion. The investment follows KKR and Qatar Investment Authority together investing $1.7 billion in the Indian firm, which is part of Mukesh Ambani’s Reliance Industries.
Abu Dhabi sovereign-wealth fund’s investment will fetch it a 0.59% stake in Reliance Retail.
Read the original article in Tech Crunch: Abu Dhabi sovereign-wealth fund invests nearly $600 million in Reliance Retail at $100 billion valuation