Silver Lake To Invest Rs 7,500 Crore In RRVL (RIL)

Silver Lake to invest Rs 7,500 crore in Reliance Retail Ventures Limited. Reliance Industries Limited (Reliance Industries) and Reliance Retail Ventures Limited (RRVL) today announced that Silver Lake will invest Rs 7500 crore in RRVL.

Silver Lake will invest Rs 7,500 crore in Reliance Retail Ventures Limited (RRVL). In return, the company will get a 1.75% stake in Reliance Retail. For this, the valuation of Reliance Retail is Rs 4.21 lakh crore. In this way, Silver Lake has invested in two companies of Reliance Group.

Reliance Industries Limited (“Reliance Industries”) and Reliance Retail Ventures Limited (“RRVL”) announced it today. Silver Lake also invested in Reliance’s tech company Jio Platforms. The company had invested Rs 10,200 crore in Jio this year.

Please tell that Mukesh Ambani has been looking for investors for retail business for a long time. After this development, Silver Lake has become the first investor for the company.

Following this announcement, Reliance Industries shares were trading at around 1%. Reliance Retail Limited, a subsidiary of RRVL, operates India’s largest and fastest-growing retail business, with close to 12,000 stores across the country.

Reliance Retail has initiated the digitization of small and unorganized merchants through its new commercial strategy and plans to expand the network of more than 20 million of these merchants.

Meanwhile

More than Rs 429 crore has been paid to the 12 lakh investors of investment company PACL, surrounded by scams. Most of them are small investors who had claims of up to ten thousand rupees on the company. Market regulator Sebi gave this information on Tuesday.

SEBI has found in an investigation that PACL Ltd. Had raised Rs 60,000 crore through illegal collective investment schemes from investors in the name of investment in agriculture and real estate projects. The company’s business ran for 18 years.

Sebi said in a statement that to date a total of Rs 429.13 crore has been returned under the settlement of claims of 12,48,344 eligible applicants. The claims of these applicants were up to a maximum of ten thousand rupees.

A committee set up under the chairmanship of former Supreme Court judge RM Lodha has initiated a process to deal with investors’ refund applications in a phased manner.

After the committee refunded more than 9.72 lakh investors with claim amounts up to Rs 8,000, the process of refunding investors with claim amounts between Rs 8,001 and Rs 10,000 started