Question : Mubadala has recently picked up 1.4% stake in Reliance Retail for Rs 6,247.5 cr. Mubadala Investment Company belongs to which country ?
(a) United Arab Emirates
(b) Saudi Arabia
(c) Turkey
(d) Kuwait
Answer (a)
Related facts
- Mubadala has recently(01 October 2020) picked up 1.4% stake in Reliance Retail for Rs 6,247.5 cr.
- This is the second investment by Mubadala in a subsidiary of Reliance Industries. It had previously invested Rs 9,093.60 crore for a 1.85 per cent stake in Jio Platforms.
- Reliance has since September raised Rs 24,847.5 crore by selling 5.65 per cent in its retail arm.
- It operates about 12,000 stores in nearly 7,000 towns, with 640 million footfalls across core categories of grocery, consumer electronics and apparel. Revenues for Reliance Retail in FY20 stood at Rs 1.63 lakh crore.
- Headquartered in Abu Dhabi(UAE), Mubadala has a portfolio of USD 232 billion spanning over six continents with interests in multiple sectors and asset classes.
By — Pankaj Pandey.