![QIA invests $1 billion in Ambani's Reliance Retail at $100 billion valuation | TechCrunch](https://hycys04.com/wp-content/uploads/2023/08/QIA-invests-1-billion-in-Ambanis-Reliance-Retail-at-100.jpg)
QIA invests $1 billion in Ambani’s Reliance Retail at $100 billion valuation | TechCrunch
![](https://techcrunch.com/wp-content/uploads/2020/06/GettyImages-1161221564.jpg?w=600)
QIA, Qatar’s sovereign fund, will invest $1 billion in Reliance Retail for a 1% stake in India’s largest retail chain, the two firms said Wednesday. The investment values Reliance Retail, part of Mukesh Ambani’s Reliance Industries, at $100 billion.
“QIA is committed to supporting innovative companies with high-growth potential in India’s fast growing retail market. We are looking forward to Reliance Retail Ventures Limited, with its strong vision and impressive growth trajectory, joining our growing and diverse portfolio of investments in India,” said Mansoor Ebrahim Al-Mahmoud, CEO of QIA, in a statement.
More to follow.
More Stories
Grindr disables key features in Olympic village to protect athletes
[ad_1] Popular LGBTQ+ dating app Grindr has disabled location-based features for users within the Olympic village of the Paris Games,...
Silicon Valley shaken as open-source AI models Llama 3.1 and Mistral Large 2 match industry leaders
[ad_1] Join our daily and weekly newsletters for the latest updates and exclusive content on industry-leading AI coverage. Learn More...
Crypto AI Token RENDER Soars 15.6% After Rebrand, Can It Hit $10?
[ad_1] Today, the Render Network finalized its RENDER crypto AI token migration and upgrade. Following the highly anticipated rebrand, the...
Grok chatbot trains on X user data in ‘very likely’ breach of EU law
[ad_1] Elon Musk could have yet another problem with the European Union. Musk’s X has enabled the Grok chatbot to...
Bitcoin Supply Drop Signals Bullish Price Movement, Analyst Says
[ad_1] After its latest halving event, Bitcoin sent a positive signal throughout the crypto market. Historically, this big drop in...
Paris Olympics app ‘prime target for cybercriminals’
[ad_1] The Paris Olympics 2024 kicked off today. But as the City of Light opens its gates to millions of...