As much as ₹19,243 crore of the loans were non-current, long-term, borrowings, as per disclosures in RRL s latest annual report. As of March 2022, it had a mere ₹1.74 crore in bank loans on its books. The retail business also raised ₹13,304 crore in long-term debt from holding company Reliance Retail Ventures Ltd (RRVL), taking its cumulative debt 73% higher from a year ago to ₹70,943 crore, as per the FY23 report.
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Qatar Investment Authority (QIA) agreed to invest ₹8,278 crore ($997 million) in Reliance Retail Ventures (RRVL) at an equity valuation of ₹8.2 lakh crore ($100 billion), making it the single largest investment by the sovereign wealth fund of the gas-rich country in India.