General Atlantic has invested ₹3,675 crore intoReliance 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.
“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”.
$4 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.
SEE ALSO:
$4
$4