October 2020 \ Business & Investment \ BUSINESS—FDI IN INDIA
Silver Lake to invest over USD 1 billion in Reliance Retail

Reliance Industries Limited (RIL) September ...

  • Mr Mukesh Ambani

Reliance Industries Limited (RIL) September announced that Silver Lake will invest Rs 7,500 crore in its subsidiary Reliance Retail Ventures Limited (RRVL). The investment values RRVL at a pre-money equity value of Rs 4.21 lakh crore. Silver Lake's investment will translate into a 1.75 percent equity stake in RRVL on a fully diluted basis, RIL said in a regulatory filing.

This marks the second billion dollar investment by Silver Lake in a Reliance Industries subsidiary after the $1.35 billion 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.