Corporate

General Atlantic to invest Rs 3,675 crores into Reliance Retail

General Atlantic to invest Rs 3,675 crores into Reliance Retail

General Atlantic, a leading global growth equity investor, will invest Rs 3,675 crores into Reliance Retail Ventures Limited. This is the third strategic investment in the retail unit of Reliance Industries Ltd (RIL), within a month.

Eletsonline News

The investment by General Atlantic values RRVL at a pre-money equity value of Rs 4.285 lakh crores and with this its investment will translate into a 0.84 percent equity stake in RRVL on a fully diluted basis.

Mukesh Ambani, Chairman and Managing Director, Reliance Industries, said, “I am pleased to extend our relationship with General Atlantic as we work towards empowering both merchants and consumers alike, and ultimately transforming Indian Retail.”

This investment values RRVL at a pre-money equity value of Rs 4.285 lakh crores, which is about Rs 7,000 crores higher than the valuation of Rs 4.21 lakh crore for the first two investments in RRVL that were announced earlier this month.

Eletsonline News

Also Read: RIL offers 40 pc stakes to Amazon in Reliance Retail

General Atlantic  CEO, Bill Ford said, “General Atlantic is thrilled to be backing Mukesh’s New Commerce mission to drive substantial positive change in the country’s retail sector, which goes hand-in-hand with his vision to enable a Digital India through the work of Jio Platforms.”

“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. We are honoured to again be partnering with the Reliance team to meaningfully accelerate India’s position in the global digital economy,” he added.

Also Read: Silver Lake picks 1.75 pc stake in Reliance Retail for Rs 7500 cr

Follow and connect with us on Facebook, Twitter, Elets video

Eletsonline News

Latest News

To Top