RIL up 3% as Abu Dhabi Investment Authority picks stake in Reliance Retail

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

Shares of Reliance Industries (RIL) gained 3 per cent to Rs 2,287.50 on the BSE on Wednesday after the company said Abu Dhabi Investment Authority (ADIA) will invest Rs 5,512.50 crore into the company's subsidiary Reliance Retail Ventures (RRVL) for 1.2-per cent stake. RIL's stock had hit a record high of Rs 2,368.80, hit on September 16, 2020.

This is the seventh 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. With this investment, RRVL has raised Rs 37,710 crore from