Qatar Investment Authority Acquires 1% Stake in Reliance Retail Ventures
Qatar Investment Authority (QIA) has invested Rs. 8,278 crore will be invested. Under this investment, QIA will get 0.99% stake in Reliance Retail Ventures. RIL gave this information on Wednesday (August 23).
Isha Ambani, Director, Reliance Retail Ventures said, “We are delighted to welcome QIA as an investor in Reliance Retail Ventures Limited. We are excited to leverage QIA’s global experience and strong track record of value creation.’
Reliance Retail is Transforming India’s Retail Sector
Isha Ambani said that we are developing Reliance Retail Ventures as a word-class organization that is transforming India’s retail sector. This investment by QIA supports the positive approach towards the Indian economy and Reliance’s retail business model, strategy and execution capabilities.
We Are Committed to Supporting Companies With Growth Potential
QIA is committed to supporting companies with high growth potential in India’s fast-growing retail market, said the Qatar Investment Authority CEO. We look forward to joining the diversified investment portfolio of Reliance Retail Ventures with a strong vision.
Reliance Industries Posts Profit of Rs 16,011 Crore in Q1FY24
Reliance Industries Ltd’s Q1FY24 i.e. first quarter profit of Rs. 16,011 crore in net profit. In the same quarter last year, the company’s net profit was Rs. 17,955 crores. That means the company’s net profit has declined by 11% in the first quarter of this financial year.
