Abu Dhabi Investment Authority invests Rs 5,512.50 cr in Reliance Retail

With eight deals in four weeks, analysts were expecting the valuation of the firm to touch at least Rs 4.5 trillion

Reliance Industries (RIL) on Tuesday said that the Abu Dhabi Investment Authority (ADIA) would invest Rs 5,512.50 crore into subsidiary Reliance Retail Ventures (RRVL) for 1.2-per cent stake.

This is the eighth deal to be announced by the Mukesh Ambani-led firm in four weeks, stepping up its stake-sale process that has seen marquee investors back the firm so far. The valuation of the company, however, remains at Rs 4.2 trillion — a worrying sign, say sector experts.

Analysts were expecting the valuation of the firm to touch at least Rs 4.5 trillion, as the stake-sale process proceeded. It hasn’t happened