Silver Lake to invest over USD 1 billion in Reliance Retail
Reliance Industries Limited (RIL) September ...
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.