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Al Marsad Journal: The Public Investment Fund today announced the signing of a nearly $ 1.3 billion investment deal in Reliance Retail Ventures Limited, a leader in the fast-growing retail industry. growth in India, to acquire a 2.04% stake in the company.
The investment in the company follows the fund’s earlier acquisition of a 2.32% stake in “Geo Platforms”, the digital services company of Reliance Industries, a subsidiary of Reliance Industries.
As a subsidiary of Reliance Industries, Reliance Retail Company Limited is the largest and fastest growing retail company in India, with up to 640 million visits to 12,000 stores across India.
The company is revolutionizing the promising retail industry in India with its new strategy to empower millions of small and medium business owners to use online platforms.
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