General Atlantic had earlier announced an investment of Rs 6,598.38 crore in Jio platforms.
Silver Lake has invested 7500 crores and KKR has invested 5500 crores in Reliance Retail.
Reliance Retail Ventures Limited (RRVL), the retail company of the country’s richest industrialist Mukesh Ambani, has made a third major deal. Private equity firm General Atlantic will invest Rs 3,675 crore in Reliance Retail. After this the company will hold 0.84% stake in Reliance Retail. Reliance Retail’s pre-money equity value for this deal is estimated at Rs 4.285 lakh crore.
Reliance Retail is selling its products online with Jio Mart. The e-commerce company supplies Jio Mart Grocery. Reliance Retail plans to build 12 thousand physical outlets across the country.
Mukesh Ambani working towards transforming Indian retail
Mukesh Ambani, chairman and managing director of Reliance Industries, said on the deal, “We are very happy to pursue our relationship with General Atlantic.” We are working towards empowering both merchants and consumers alike and transforming Indian retail. ”
First two deals on RRVL
First Deal – Earlier this month, Tech Investor Company Silver Lake announced an investment of Rs 7500 crore in Reliance Retail. The company received a 1.75 per cent stake in Reliance Retail.
Second Deal- Merchandise company KKR had announced to invest Rs 5550 crore in Reliance Retail. In return, the company received a 1.28 per cent stake in Reliance Retail.
Significantly, General Atlantic had earlier announced an investment of Rs 6,598.38 crore in Jio platforms.