Reliance Industries Says GIC, TPG To Invest Rs 7,350 Crore In Reliance Retail

(RTTNews) - Billionaire Mukesh Ambani's Reliance Industries Ltd and Reliance Retail Ventures Ltd (RRVL) announced that Singapore sovereign wealth fund GIC will invest 55.12 billion rupees for a 1.22% stake in RRVL on a fully diluted basis. This investment values RRVL at a pre-money equity value of 4.285 trillion rupees.

Separately, Reliance Industries and RRVL announced that global investment firm TPG will invest 18.38 billion rupees for a 0.41% equity stake in RRVL. This investment values will be the second investment by TPG in a subsidiary of Reliance Industries, following a 4,546.8 crore rupees investment in Jio Platforms announced earlier this year.

Reliance Retail Limited, a subsidiary of RRVL, operates India's largest, fastest growing and most profitable retail business serving close to 640 million footfalls across its ~12,000 stores nationwide.

Recently, Abu Dhabi-based sovereign investor Mubadala Investment Company said it will invest 6,247.5 crore rupees into Reliance Retail Ventures for a 1.40 per cent stake.

On September 30, RIL announced that co-investors of Silver Lake and General Atlantic will invest 1,875 crore rupees and 3,675 crore rupees respectively in RRVL.

KKR & Co announced 5,550 crore rupees investment recently, while Silver Lake invested 7,500 crore rupees.