Saudi PIF to invest $1.3 billion in Reliance Retail for 2.04% stake
PIF is known as the Sovereign Fund of Saudi Arabia
The Public Investment Fund operates under the Saudi dynasty
RRVL has a pre-money equity value of Rs 4.587 lakh crore
PIF had earlier acquired 2.32% stake in Jio platform by investing $ 1.5 billion
RRVL has so far secured an investment of Rs 47,265 crore by issuing 10.52% stake
Reliance Retail, with 12,000 stores, generates a revenue of Rs 41,100 crore
The Indian retail sector, which contributes 10% of GDP, is growing exponentially
