look news india
Abu Dhabi Investment Authority (ADIA) and KKRA Reliance Retail Venture Limited's warehousing project worth Rs. There is news of investment of Rs 12,864 crore i.e. 1.5 billion dollars. The investment is not in the Infrastructure Investment Trust (INVIT), which was formed last year by Reliance Retail Ventures Ltd (RRVL) to manage up to 50 per cent of its warehousing, but in other warehousing of less than 1 lakh sq ft. This information was given by sources related to this incident. However, this deal is yet to be officially announced. In March, RRVL transferred 1.20 crore sq ft of its warehouses to Reliance Logistics and Warehousing Holdings. This company was established in December, 2022. ADIA and KKR have invested $1.5 billion in this company and both have half stake in this total investment. The warehouses allotted to both the companies under this investment will be managed and maintained by Reliance Project and Property Management Services Limited. Both these foreign funds have also invested in Jio Platforms and RRVL.
A look at Reliance Retail's warehouse business
Reliance Logistics and Warehouse Holdings was established in December, 2022.
Reliance Retail transferred its 1.20 crore square feet warehouses across the country to this new company.
Warehouses with a size of more than 1 lakh square feet come under Reliance's Infrastructure Investment Trust (INVIT).
Both foreign funds have invested in warehouses smaller than 1 lakh square feet
These foreign funds will enter into an agreement with Reliance Retail for long-term lease of the warehouse.
Reliance Retail currently has a total of 18,836 stores in the country, with a total area of 7.91 crore square feet.