Reliance Retail Ventures, the retail division of Reliance Industries led by Mukesh Ambani, is allegedly in discussions to sell a share to Qatar's sovereign wealth fund, Qatar Investment Authority (QIA). This occurs at a time when Gulf funds are increasing their wagers on the rapidly expanding Indian market.

The Financial Times reported that QIA is thinking about purchasing a small share in Reliance Retail Ventures. According to the article, which included insider sources, the investment will probably total $1 billion, or 1% of the company. This gives the company a $100 billion market worth.

The Public Investment Fund of Saudi Arabia invested $1.3 billion in Reliance Retail in 2020, acquiring a 2.04% stake. The study also said that the company's valuation at the time was $62.4 billion. KKR and two sovereign investment funds from Abu Dhabi are also shareholders in the business.

Reliance Retail, however, had a 19% increase in net profit for the April-June period. Its net profit for the quarter was Rs 2,448 crore, up 19% from Rs 2,061 crore in the same period a year ago. Through its parent business Reliance Retail Ventures (RRVL), RIL is the owner of RRL.

The operating income for RRL increased by 20.5% year over year (YoY) to Rs 62,159 crore. EBITDA from operations increased by 25.6% to Rs 4,896 crore from Rs 3,897 crore in the April-June 2022 quarter, while the EBITDA margin increased by 30 basis points year over year to 7.9%.