QIA's investment values RRVL at ₹8.28 lakh crore or $100 billion, twice its ₹4.21 lakh crore 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.
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