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KRChoksey Report
Reliance Industries Ltd. (RIL) on September 09, 2020 announced that Silver Lake will invest an amount Rs 7,500 crore in Reliance Retail Ventures Ltd (RRVL), a subsidiary of Reliance Industries, which will translate into a 1.75% equity stake in Reliance Retail on a fully diluted basis. Silver Lake had also invested Rs 10,202.6 crore in Jio Platforms earlier this year.
Transaction for the investments is valued at an equity value of Rs 4.21 lakh crore.
This investment comes close on the heels of Reliance Industries's minority stake purchase in Kishore Biyani-led Future Group retail, wholesale, logistics and warehousing businesses, through its subsidiary Reliance Retail for Rs 24,713 crore.
The deal is significant as Reliance Industries is expanding its retail business and attracting global investors.
Strategic and financial investors can help the company fundraise for its retail business as foreign direct investment in multibrand retailing is not allowed in India, yet.
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