Latest News | RIL Shares Jump over 2 Pc
Get latest articles and stories on Latest News at LatestLY. Shares of Reliance Industries Ltd on Wednesday closed with over 2 per cent gains after the retail arm of the company raised Rs 5,512.50 crore from Abu Dhabi Investment Authority (ADIA).
New Delhi, Oct 7 (PTI) Shares of Reliance Industries Ltd on Wednesday closed with over 2 per cent gains after the retail arm of the company raised Rs 5,512.50 crore from Abu Dhabi Investment Authority (ADIA).
The heavyweight stock closed at Rs 2,257.15, up 2.13 per cent on the BSE. During the day, it jumped 4.49 per cent to Rs 2,309.40.
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On the NSE, it rose by 2.22 per cent to settle at Rs 2,259.40.
The company's market valuation also jumped Rs 31,824.32 crore to Rs 15,26,293.32 crore on the BSE.
In volume terms, 8.75 lakh shares were traded on the BSE and 2.45 crore on the NSE.
Reliance Retail Ventures Ltd, run by India's richest man Mukesh Ambani, on Tuesday raised Rs 5,512.50 crore from Abu Dhabi Investment Authority (ADIA), taking the total fundraise to Rs 37,710 crore in less than four weeks.
"ADIA's investment will translate into a 1.20 per cent equity stake," the Indian firm said in a statement.
The investment values RRVL, the retail arm of Reliance Industries Ltd, at a pre-money equity value of Rs 4.285 lakh crore.
"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," the statement said.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)