Reliance Retail raises Rs 1,875 crore from Silver Lake’ co-investor, share rises 1%

Reliance Industries touched Rs 2,264, ip by 1% on the company’s announcement of raising Rs 1,875 crore in its Retail business from the co-investors of private equity giant, Silver Lake.

Reliance Industries touched Rs 2,264, up by 1% on the company’s announcement of raising Rs 1,875 crore in its Retail business from the co-investors of private equity giant, Silver Lake.

Mumbai based Reliance Industries (RIL) share opened at Rs 2,263.80, with previous close of Rs 2,234.35. It has touched an intraday low of Rs 2,237.35.

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The deal takes the combined investment by Silver Lake and its co-investors in Mukesh Ambani led Reliance Retail Ventures Limited (RRVL) to Rs 9,375 crore for a 2.13% equity stake.

KKR and Silver Lake Partners had earlier invested Rs 5,550 crore and Rs 7,500 crore respectively in RRVL.

Most recently, General Atlantic said it will invest Rs 3,675 crore in Reliance Retail, after months of its investment deal in Reliance Jio Infocomm.