By Aditya Kalra, Hadeel Al Sayegh and Aftab Ahmed
NEW DELHI/DUBAI, Sept 29 (Reuters) – Abu Dhabi state fund Mubadala Investment Co is in advanced talks to invest up to $1 billion in the retail division of India’s Reliance Industries Ltd RELI.NS, two sources told Reuters, as investor interest in the Indian company surges.
Reliance Retail is on a fund raising spree and has secured around $1.8 billion in the past few weeks from KKR & Co KKR.N and Silver Lake Partners.
Reliance, controlled by Asia’s richest man Mukesh Ambani, has approached investors, who collectively pumped more than $20 billion into its Jio Platforms digital business this year, to take stakes in its retail business, which has nearly 12,000 stores and sells everything from groceries and electronics to fashion and shoes.
Mubadala invested around $1.2 billion in Jio Platforms and its executives have held extensive talks in recent