GIC And TPG Have Invested Capital In Reliance Retail
GIC and TPG Invested capital in Reliance Retail. Two more companies invested capital in Reliance Retail, till now 7.28% of the total equity investment has come to more than 32 thousand crores
Continuing to invest in Reliance Retail, the retail arm of Reliance Industries Ltd, led by Mukesh Ambani, the richest person in Asia. There have been five major investments in the company in the last four days. GIC invested capital in Reliance Retail Ventures Limited (RRVL) late on Friday night.
GIC has invested Rs 5,512.5 crore in Reliance Retail for 1.22 percent equity. At the same time, on Saturday morning TPG announced an investment of Rs 1,837.5 crore for 0.41 percent equity in Reliance Retail. The deal valued the pre-money equity of Reliance Retail at Rs 4.285 lakh crore.
In this way, GIC and TPG have announced an investment of Rs 7,350 crore for a total stake of about 1.6 percent in Reliance Retail. Please tell here that TPG had earlier invested Rs 4,546.8 crore in Reliance Industries Limited’s own Jio Platforms.
Silver Lake first started investing in this retail arm of RIL on 9 September. After Silver Lake, global investment funds such as KKR, General Atlantic, and Mubadala have announced investments in it.
At the same time, Silver Lake recently increased its stake in Reliance Retail. In this way, through seven investments in 25 days, Reliance Retail has raised Rs 32.19 thousand crores against a 7.28 percent stake.
Mukesh Ambani, Chairman of Reliance Industries Limited, expressed happiness over both these investments and said, “There is a need to change the ecosystem of the retail sector in India. GIC and TPG will be helpful for this purpose.
Mukesh Ambani: I applaud GIC’s excellent track record of investing in technology companies and businesses.
At the same time, Reliance Retail Director Isha Ambani said on TPG’s investment, ‘We are very happy to welcome TPG in our journey to revolutionize the retail sector in India and improve the economic condition of millions of businesspeople in the country. TPG’s rich experience will prove invaluable to Reliance Retail Mission.
