QIA invests $1 billion in Ambani’s Reliance Retail at $100 billion valuation

QIA, Qatar’s sovereign fund, will invest $1 billion in Reliance Retail for a 1% stake in India’s largest retail chain, the two firms said Wednesday. The investment values Reliance Retail, part of Mukesh Ambani’s Reliance Industries, at $100 billion.
Reliance Retail — which operates 18.500 stores and digital commerce platforms, selling everything from electronics to fashion and pharma — was last valued at $62.4 billion in 2020, when it raised billions of dollars from investors including Saudi Arabia’s Public Investment Fund and private equity giant KKR.
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