Reliance Retail sells 2.04% stake to Saudi wealth fund PIF for $1.3b

Reliance Retail sells 2.04% stake to Saudi wealth fund PIF for $1.3b

REUTERS/Shailesh Andrade

The Public Investment Fund (PIF), the sovereign wealth fund of Saudi Arabia, will invest 9,555 crore for a 2.04% stake in Reliance Retail Ventures Ltd (RRVL), a subsidiary of Reliance Industries, the company said today.