Reliance Industries Gains 1% As GIC, TPG Capital, Mubadala Buy Stake In Retail Arm

Reliance Industries (RIL) Share Price: The Abu Dhabi-based state fund Mubadala invested Rs 6,247.5 crore, and Singapore's sovereign wealth fund GIC and global private equity firm TPG Capital invested a combined Rs 7,350 crore in Reliance Retail Ventures.

Reliance Industries Gains 1% As GIC, TPG Capital, Mubadala Buy Stake In Retail Arm

RIL Share Price: At 9:30 am, the shares were trading off intra-day highs at Rs 2,231.90, up 0.3 per cent.

Reliance Industries shares gained 1 per cent on the BSE in early trading, in line with the benchmark indices, after the Abu Dhabi-based state fund Mubadala invested Rs 6,247.5 crore, and Singapore's sovereign wealth fund GIC and global private equity firm TPG Capital invested a combined Rs 7,350 crore in the oil-to-telecoms conglomerate's retail arm, Reliance Retail Ventures during the extended weekend. The shares of Reliance Industries touched an intra-day high of Rs 2,249, up 1.07 per cent on the BSE at opening bell. At 9:30 am, the shares were trading off their intra-day highs at Rs 2,231.90, up 0.3 per cent, on the BSE

Mubadala Investment Company's investment will translate into a 1.40 per cent stake in Reliance Retail Ventures Limited (RRVL). On the other hand, GIC will invest Rs 5,512 crore for a 1.22 per cent stake and TPG Capital Management will invest Rs 1,838 crore to own a 0.41 per cent equity stake in the retail arm.

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The BSE Sensex was trading at 39166.75, higher by 461.55 points or 1.21 per cent and the NSE Nifty was at 11545.80, up 130.05 points or 1.13 per cent at the time.