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    Another big cheque for Reliance Retail, Saudi PIF to invest $1.3 billion for 2.04% stake

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    The Public Investment Fund (PIF) of Saudi Arabia has agreed to invest around Rs 9,555 crore or $1.3 billion in Reliance Industries’ (RIL) unit Reliance Retail Ventures (RRVL) for a 2.04 per cent stake, the latter said in a release on Thursday. This investment values RRVL at a pre-money equity value of Rs 4.587 lakh crore. The investment in RRVL follows PIF’s earlier acquisition of a 2.32 per cent stake in Jio Platforms, the digital services subsidiary of RIL.

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