Reliance Retail Ventures Ltd (RRVL), a subsidiary of Asia’s richest man Mukesh Ambani-led Reliance Industries (RIL), has raised Rs 5,512.5 crore from global investment firm GIC in lieu of a 1.22 per cent stake.

The investment RRVL at a pre-money equity value of Rs 4.285 lakh crore.

“It gives me great pleasure to welcome GIC to the Reliance Retail family. I am delighted that GIC, with its track record of close to four decades of successful long-term value investing across the world, is partnering with Reliance Retail in its mission to transform the Indian retail landscape,” RIL Chairman and Managing Director Mukesh Ambani said.

“GIC’s global network and track record of long-term partnerships will be invaluable to the transformation story of Indian tetail. This investment is a strong endorsement of our strategy and India’s potential,” he added.

Read the story: General Atlantic to invest ₹3,675 cr in Reliance Retail

This is the sixth investment into Reliance Retail. Mubadala Investment Company (Mubadala), the Abu Dhabi-based sovereign investor, will invest ₹ 6,247.5 crore (AED 3.1 billion) into Reliance Retail Ventures Limited .On Thursday, General Atlantic said will invest ₹ 3,675 crore for a 0.84 per cent equity stake in RRVL. On the same day, co-investors of Silver Lake announced Rs 1,875 crore investment . On September 23, Reliance Retail announced a ₹5,550-crore fund-raise from US-based investment firm KKR for a 1.28 per cent stake. On September 8, an investment of ₹7,500 crore was announced by US-based Silver Lake. More deals are expected over the next few weeks, with the names of global investors TPG and Abu Dhabi Investment Authority (ADIA) doing the rounds.

READ THE STORY: Reliance Retail Ventures raises ₹7,500 crore from Silver Lake

Reliance Retail Ltd, a subsidiary of RRVL, operates India's close to 640 million footfalls across its 12,000 stores nationwide.

“GIC is pleased to partner with Reliance through this new investment, which will enable the company to position Reliance Retail for the strong secular growth in India’s retail market. We believe Reliance Retail will continue to use its extensive supply chain and store networks, as well as strong logistics and data infrastructure, to add value to its customers and shareholders,” Lim Chow Kiat, Chief Executive Officer at GIC said.

Morgan Stanley was the financial advisor to Reliance Retail and Cyril Amarchand Mangaldas and Davis Polk & Wardwell acted were legal counsels.

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