# Reliance Retail-PIF deal: Here are five things you should know about it | Tech News (HT Tech)
> PIF has invested ₹9,555 crore ($1.3 billion approximately) in Reliance Retail.
# Reliance Retail-PIF deal: Here are five things you should know about it
## PIF has invested ₹9,555 crore ($1.3 billion approximately) in Reliance Retail.
Aug 20 2022, 23:50 IST
Reliance Retail (REUTERS)
### By HT TECH
Reliance Industries is on a spree once again. But this time around, it’s not the Jio Platforms that is attracting investments from investors around the globe. Instead, this time Reliance Retail has taken the spotlight.
In the past couple of weeks, Reliance Retail Ventures Limited (RRLV) has attracted investments from investors including General Atlantic, Silver Lake, KKR, Mubadala, GIC and TPG among others -- all of which also invested in RIL’s Jio Platforms. Today the company announced that it had attracted major investment from Saudi Arabia-based Public Investment Fund or PIF.
“We at Reliance have a long-standing relationship with the Kingdom of Saudi Arabia. PIF is at the forefront of the economic transformation of the Kingdom of Saudi Arabia. I welcome PIF as a valued partner in Reliance Retail and look forward to their sustained support and guidance as we continue our ambitious journey to transform India’s retail sector for enriching the lives of 1.3 billion Indians and millions of small merchants,” RIL Chairman and MD Mukesh Ambani said on the occasion.
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So, here are five things that you should know about the Reliance Retail-PIF deal:
– PIF has invested ₹9,555 crore ($1.3 billion approximately) in Reliance Retail.
– This investment gives PIF a 2.04% stake in RRVL.
– This investment values RRVL at a pre-money equity value of ₹4.587 lakh crore ($62.4 billion approximately).
– The investment in RRVL follows PIF’s earlier acquisition of a 2.32% stake in Jio Platforms.
– Reliance Retail operates nearly 12,000 stores across the country and it reported a net profit of ₹5,448 crore ($ 726.4 million) for the year ended March 31, 2020.
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05 Nov, 17:10 IST
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