Reliance Industries Ltd’s (RIL) retail business is likely to get investment from global investors, General Atlantic and TPG with each contributing $1 billion each. Recently, equity firms, Silver Lake and KKR also acquired equity in Mukesh Ammani led Reliance Retail Ventures Ltd.
US-based PE firm, Silver Lake had announced that it would invest Rs 7,500 crore in Mumbai based Reliance Retail for 1.75 per cent stake in the company. KKR will infuse Rs 5,550 crore for 1.28% stake in the RIL subsidiary. This investment valued Reliance Retail Ventures Ltd. (RRVL) at a equity value of Rs 4.21 lakh crore.
The $800-million Indian retail market is expected to touch $1.3 trillion in the next few 7-8 years. Reliance has already on track to become the leader in its brick-and-mortar presence coupled with JioMart digital offering.
Good Morning Folks:
An important announcement by Reliance Retail is here.
For your kind support.
Warmly pic.twitter.com/1xQl5Sr9jH— Reliance Industries Limited (@RIL_Updates) September 23, 2020
