Abu Dhabi state fund Mubadala to invest $853 million in Reliance Retail

Mukesh Ambani, chairman of Indian energy company Reliance Industries, speaks during the Vibrant Gujarat Global Investors' Summit 2011 (VGGIS) at Gandhinagar in the western Indian state of Gujarat January 12, 2011. REUTERS/Amit Dave/File Photo

BENGALURU (Reuters) - Abu Dhabi state fund Mubadala Investment Company will invest 62.48 billion rupees ($852.84 million) in Reliance Industries retail arm, giving the unit a pre-money equity value of 4.29 trillion rupees, the Indian conglomerate said on Thursday.

Mubadala's investment will translate into a 1.40% equity stake in Reliance Retail on a fully diluted basis. (

Reporting by Philip George in Bengaluru; Editing by Arun Koyyur