RIL share price gains after ADIA-Reliance Retail deal news

RIL share price gains after ADIA-Reliance Retail deal news

Reliance Industries (RIL) share price gained in early trade on October 7 on investment by the ADIA into Reliance Retail Ventures.

A wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA) will invest Rs 5,512.50 crore into the company's subsidiary Reliance Retail Ventures (RRVL), as per the press release.

This investment values RRVL at a pre-money equity value of Rs 4.285 lakh crore.

With this investment, RRVL has raised Rs 37,710 crore from leading global investors including Silver Lake, KKR, General Atlantic, Mubadala, GIC, TPG  and ADIA in less than four weeks, it added.