India's Reliance Industries announced that the Saudi Public Investment Fund will invest 95.55 billion rupees ($ 1.29 billion) to acquire a 2.04 share in the group's retail unit. It gives it a pre-cash value of 4.59 trillion rupees equivalent to $ 62.4 billion.

According to Arabiya Net, the group said earlier that the Abu Dhabi Investment Authority will invest 55.13 billion rupees ($ 751.13 million) in its retail arm, an estimated value The unit before receiving liquidity from the currently ongoing financing round is estimated at 4.29 trillion rupees.

In exchange for its investment, Abu Dhabi Authority obtains a 1.2% equity stake in Reliance Retail.

Earlier, UAE-based Mubadala Investment Company announced that it would invest 3.1 billion dirhams in Reliance Retail Ventures.

Mubadala Investment said, in a statement, that the investment estimates Reliance Retail at a pre-cash valuation of 4.285 trillion rupees, according to Reuters.

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India's Reliance Industries Limited and Geo Platforms Limited said last June that Mubadala Investment Company, Mubadala will invest 4.4 billion dirhams in Geo Platforms based on an equity equivalent 239 billion dirhams, and the estimated value of the facility is 250 billion dirhams.

and for this investment, Mubadala will receive a 1.85% stake in Geo Platforms.

With this investment, Geo Platforms raised 43 billion dirhams from an elite group of the most prominent global investors in technology and growth, including Facebook, Silver Lake, Vista Equity Partners, General Atlantic and K KR and swap in less than 6 weeks.

is a wholly owned subsidiary of Reliance Industries, a platform for the next generation of technology focused on providing high-quality digital services at affordable prices across India, providing services to more than 388 million subscribers.

Reliance has been aggressively building its retail presence through acquisitions, moving beyond the oil and gas business.

the company says it aims to attract retail investors in Reliance within the next few quarters.

The group has raised just over $ 20 billion from global investors, including Facebook, on ...