Reliance Retail seals its third deal this month – General Atlantic to invest ₹3,675 crore
- General Atlantic has invested ₹3,675 crore into Reliance Retail Ventures Limited for a 0.84% stake in the company.
- This is the third investment for Reliance Retail, which is valued at ₹ 4.285 lakh crore.
- According to Business Insider’s sources, Reliance Retail is set to raise $5.7 billion with only existing Jio investors getting on board as investors to “further deepen the relationship”.
This is the third investment for Reliance Retail, which is valued at ₹ 4.285 lakh crore.
|Company||Investment in Reliance Retail||Stake in Reliance Retail||Investment in Jio||Stake in Jio|
|Silver Lake||₹7,500 crore||1.75%||₹10,202.55 crore||2.08%|
|KKR||₹5,550 crore||1.28%||₹11,367 crore||2.32%|
|General Atlantic||₹3,675 crore||0.84%||₹6,598.38 crore||1.34%|
“Like Reliance Retail, General Atlantic believes in the fundamental ability of digital enablement to drive progress, growth, and inclusion across India and the world. We look forward to leveraging General Atlantic’s extensive expertise at the intersection of technology and consumer businesses, and two decades of experience investing in India, as we create a disruptive New Commerce platform to redefine retail in the country,” Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said in a statement.
At his speech during Reliance’s Annual General Meet, Ambani had mentioned that talks are on with potential investors for investments in retail. According to Business Insider’s sources, Reliance Retail is set to raise $5.7 billion with only existing Jio investors getting on board as investors to “further deepen the relationship”.
Reports also say that Abu Dhabi’s Mubadala is set to invest $1 billion in Reliance Retail.
“General Atlantic shares Reliance Industries’ foundational belief in the power of technology to foster transformative growth, and we are excited by the immense potential of the full Reliance ecosystem,” said Bill Ford, Chief Executive Officer of General Atlantic.
Mukesh Ambani added ₹90 crore per hour to his wealth in the last six months, says Hurun report
Top stocks to watch— Future Retail, HDFC, Indiabulls Housing, Vodafone Idea, PVR, Welspun Corp and others
- Maha Budget: Rs 12,500 cr package for health institutions
- For women, Maha Budget offers stamp duty concession, special SRPF battalion
- Jeff Bezos' ex-wife MacKenzie Scott - third richest women in the world gets married to a chemistry teacher
- Delhi govt's 'outcome budget' 2020-21: Most projects under Directorate of Education 'on track'
- Maharashtra budget: Plan for hill station in Palghar's Jawhar