New Delhi, October 1
US private equity firm Silver Lake Partners will invest an additional Rs 1,875 crore in the retail arm of Reliance Industries, the Indian firm announced late on Wednesday.
“Reliance Industries and Reliance Retail Ventures Limited (‘RRVL’) have announced that co-investors of Silver Lake will invest an additional Rs 1,875 crore into RRVL,” the statement said.
This brings the aggregate investment by Silver Lake and its co-investors in RRVL to Rs 9,375 crore, which will translate into a 2.13% equity stake in RRVL. “This latest investment values Reliance Retail at a pre-money equity value of Rs 4.285 lakh crore,” the statement added.
Earlier on Wednesday, another US-based private equity firm General Atlantic had announced investing Rs 3,675 crore for a 0.84% stake in Reliance Retail.
“Silver Lake’s additional investment is a strong endorsement of the tremendous potential of Indian Retail and the capabilities of Reliance Retail,” said Mukesh Ambani, CMD, Reliance Industries. — PTI