RIL’s Retail Arm Reliance Retail Receives Rs 7,500 Crore
RIL’s retail arm Reliance Retail receives Rs 7,500 crore from Silver Lake for a 1.75 percent stake. Mukesh Ambani-led Reliance Industries Ltd (RIL) on Saturday said it has received a payment of Rs 7,500 crore from private equity company Silver Lake Partners.
The company said that Silver Lake has made this payment in lieu of a 1.75 percent stake in Reliance Retail Ventures Limited (RRVL). The deal was announced by RIL on 9 September. RRVL is the retail arm of Reliance Industries.
Reliance Industries has told the stock exchanges that its retail unit Reliance Retail has received a payment of Rs 7,500 crore from SLP Rainbow Holdings Private Limited (Silver Lake).
The company said that RIL’s retail arm,1.75 percent stake has gone in Silver Lake. Explain here that the valuation of Reliance Retail in this deal was Rs 4.21 lakh crore.
This is the second time Silverlake has invested billions of dollars in a unit of Reliance Industries. Silverlake had earlier announced a $ 1.35 billion investment in Jio Platforms.
Silver Lake had invested in Jio Platforms in two installments. The company has bought a total of 2.08 percent stake in Jio Platforms for Rs 10,202.55 crore in two installments.
Here, in addition to Silver Lake, Jio platforms have also invested in Facebook, Google, Mubadla, KKR, Vista, and General Atlantic.
Silver Lake is a company investing in the technology sector. The company has invested in Airbnb, Alibaba, Alphabet’s Verily and Waymo units, Dell Technologies, Twitter, and many other technology sector companies.
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