Ambanis Reliance Retail raises $13 billion from PIF
The Public Investment Fund, which has this year invested $1.5 billion in Mukesh Ambani’s telecom venture Jio Platforms and more than half a billion dollars in his fiber-optic business, has returned to back yet another empire built by India’s richest man. The sovereign wealth fund is investing $1.3 billion in Reliance Retail for a 2.04% equity stake in the largest retail chain in India. The inve
stment values Reliance Retail, which was founded in 2006, at $62.4 billion, the Indian firm said.
Date: 2020-11-05
URL: https://techcrunch.com/2020/11/05/reliance-retail-raises-1-3-billion-from-pif/
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