Global investment firm Silver Lake Partners to invest an additional Rs 1,875 crore in Reliance Retail Ventures, the retail arm of Reliance Industries Ltd (RIL), the company said in a press statement.
“Reliance Industries Limited (‘Reliance Industries’) and Reliance Retail Ventures Limited (‘RRVL’) announced today that co-investors of Silver Lake will invest an additional Rs 1,875 crore into RRVL, a subsidiary of Reliance Industries,” the statement said.
This brings the total investment by Silver Lake and its co-investors in Reliance Retail to Rs 9,375 crore.
“The latest investment values Reliance Retail at a pre-money equity value of Rs 4.285 lakh crore,” the statement added.
Commenting on the development, Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said, “Silver Lake and its co-investors are valued partners on our journey to transform Indian Retail for the benefit of all Indians. We are pleased to have their confidence and support, as well as the benefit of their leadership in global technology investing and their valued network of relationships for the Retail revolution in India.”
“Silver Lake’s additional investment is a strong endorsement of the tremendous potential of Indian Retail and the capabilities of Reliance Retail,” he added.
Egon Durban, Co-CEO and Managing Partner of Silver Lake, said, “We are delighted to increase our exposure and bring more of our co-investors into this unmatched opportunity. The continued investment momentum over the last few weeks is proof of the compelling vision and business model of Reliance Retail – and underscores the tremendous potential of the transformative New Commerce initiative.”Â
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