QIA’s investment values RRVL at ₹8.28 trillion or $100 billion, twice its ₹4.21 trillion valuation in 2021.
QIA’s investment will translate into a 0.99% stake in RRVL on a fully diluted basis, RRVL said on Wednesday.
“The company might look slightly overvalued now, but the investors are of the view that the high growth in the segment coupled with the large market that the company is targeting will help it grow into the value in future," an investment banker said on condition of anonymity.
Earlier this month, equity researcher Bernstein estimated a valuation of $112 billion for RIL’s retail business.
“Some of these investors have taken a long-term view on the sector and the group," the banker cited above added.
The company has also worked on consolidating its position in the country’s organized retail market with the more recent acquisition of German wholesale retailer Metro Cash and Carry’s India business, for instance.
Diese Geschichte stammt aus der August 24, 2023-Ausgabe von Mint Mumbai.
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Diese Geschichte stammt aus der August 24, 2023-Ausgabe von Mint Mumbai.
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