Shares of the Reliance Industries rose to 2.5% to Rs. 2,215 today. The rise was seen after Reliance Retail investors announced $1 billion investment with California based private equity fund Silver Lake.
Silver Lake has picked up a 1.75% stake in Reliance Retail Venture for 7,500 crore valuing the company at $ 57 billion. Reliance retail ventures will also draw additional investments worth $5 billion from KKR and Co., Mubadala Investment CO. and Abu Dhabi investment property.
Shares of Reliance Industries earlier ad a market cap of Rs. 14 lakh crore but have now doubled from its March lows of Rs.867.
Reliance has a primary business in the oil industry and has also helped to achieve a rise in the Nifty energy index rise to 1.73%.
