QIA Considering $1 Billion Stake in Ambani’s Reliance Retail
- Parent company Reliance Industries rises 2.5% on Wednesday
- Reliance Retail raised more than $6 billion from funds in 2020
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Qatar’s sovereign wealth fund is in early discussions to purchase a minority stake in Indian billionaire Mukesh Ambani’s rapidly expanding retail unit, according to people familiar with the matter.
The Qatar Investment Authority wants to increase its bets in India and is among parties that are in talks to buy into Reliance Retail Ventures Ltd., said the people, who asked not to be identified as the discussions are private. The stake may amount to $1 billion, one of the people said. Other oil-rich Middle Eastern investors looking to diversify their portfolios are also keen to invest in Ambani’s retail arm, the people said.