Reliance Industries is holding its 4th annual general meeting (AGM) on August 28. The meeting will be addressed by RIL’s chairman and managing director Mukesh D Ambani. The AGM will be live streamed across the company’s social media platforms for shareholders as well as the general public.
RIL’s 46th AGM can be watched live on:
* Facebook: https://www.facebook.com/RelianceIndustriesLimited
* YouTube: https://www.youtube.com/@RelianceUpdates
* Instagram: https://www.instagram.com/relianceupdates/
In one of the biggest announcements before the AGM, the company announced that Qatar Investment Authority (QIA), through a wholly-owned subsidiary, will invest Rs 8,278 crore into Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries Limited. This investment values RRVL at a pre-money equity value of Rs 8.278 lakh crore.
RRVL, through its subsidiaries and associates, operates retail business that claims to serve 267 million customers with an integrated omni channel network of over 18,500 stores and digital commerce platforms across grocery, consumer electronics, fashion & lifestyle, and pharma consumption baskets.
QIA’s investment will translate into a minority equity stake of 0.99% in RRVL on a fully-diluted basis. The previous fund-raise round by RRVL in 2020 from various global investors of an aggregate amount of Rs 47,265 crore was done at a pre-money equity value of Rs 4.21 lakh crore.
The valuation of the retail business of Ambani has doubled within three years, and this has increased the noise of a possible initial public offer (IPO) of Reliance Retail on the Street, as per a report in ET.
Since the last AGM, Reliance Retail has increased its EBITDA, which is a measure of company profitability used by investors, from Rs 12,423 crore in 2021-22 to Rs 17,974 crore in 2022 to 2023.
RIL’s 46th AGM can be watched live on:
* Facebook: https://www.facebook.com/RelianceIndustriesLimited
* YouTube: https://www.youtube.com/@RelianceUpdates
* Instagram: https://www.instagram.com/relianceupdates/
In one of the biggest announcements before the AGM, the company announced that Qatar Investment Authority (QIA), through a wholly-owned subsidiary, will invest Rs 8,278 crore into Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries Limited. This investment values RRVL at a pre-money equity value of Rs 8.278 lakh crore.
RRVL, through its subsidiaries and associates, operates retail business that claims to serve 267 million customers with an integrated omni channel network of over 18,500 stores and digital commerce platforms across grocery, consumer electronics, fashion & lifestyle, and pharma consumption baskets.
QIA’s investment will translate into a minority equity stake of 0.99% in RRVL on a fully-diluted basis. The previous fund-raise round by RRVL in 2020 from various global investors of an aggregate amount of Rs 47,265 crore was done at a pre-money equity value of Rs 4.21 lakh crore.
The valuation of the retail business of Ambani has doubled within three years, and this has increased the noise of a possible initial public offer (IPO) of Reliance Retail on the Street, as per a report in ET.
Since the last AGM, Reliance Retail has increased its EBITDA, which is a measure of company profitability used by investors, from Rs 12,423 crore in 2021-22 to Rs 17,974 crore in 2022 to 2023.
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