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Qatar Investment Authority Invests $1 Billion in India’s Reliance Retail Ventures

The Gulf sovereign wealth fund will acquire a 1 percent stake in Mukesh Ambani’s conglomerate, nearly doubling its valuation to $100 billion from its last funding round in 2020.
Isha Ambani daughter of Mukesh Ambani, chairman and managing director of Reliance Industries.
Isha Ambani daughter of Mukesh Ambani, chairman and managing director of Reliance Industries. (Getty Images)
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Qatar’s sovereign wealth fund invested 82.78 billion rupees ($1 billion) into India’s biggest brick-and-mortar retailer as Asia’s richest man Mukesh Ambani looks to rapidly expand its operations and take on global competitors including Amazon.com Inc. and Walmart Inc.

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