Reliance Retail Ventures Limited (RRVL) completes fund raise Rs. 47,265 Crore for 10.09% stake in the company. RRVL replicated the speed with which it raised funds for JIO platform earlier in the year.
Reliance Retail Ventures Limited is a subsidiary of Reliance Industries Limited, and holding company of all the retail companies under the RIL Group. RRVL reported a consolidated turnover of Rs. 162,936 Crore ($ 21.7 billion) and net profit of Rs. 5,448 Crore ($ 726.4 million) for the year ended March 31, 2020.
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