Reliance Industries Ltd, led by Mukesh Ambani, said on Saturday that it has received ₹7,500 crore from Silver Lake Partners. The California-based private equity firm previously acquired a 1.75% stake in Reliance’s retail arm. On September 9, Reliance Industries announced that Silver Lake would invest ₹7.5 billion rupees in its Reliance Retail Ventures Ltd. arm.
RRVL has received “the subscription amount of ₹Rs 7.5 billion from SLP Rainbow Holdings Pte Ltd (Silver Lake), “the company said in a regulatory filing on Saturday. Following the allocation of the equity stake,” SLP Rainbow Holdings owns 1.75% of the fully diluted share capital. ” of RRVL, This investment had valued RRVL at a pre-money equity value of ₹4.21 crore lakh.
This marks Silver Lake’s second investment in a Reliance Industries subsidiary, following a ₹Rs 10,202.55 million investment in Jio Platforms announced earlier this year. It was the first US private equity firm to invest in Jio Platforms after tech giant Facebook acquired a 9.99% stake in the company. ₹43,573.62 million rupees. Silver Lake bought 2.08% in Jio in two tranches.
Spread across the country, Reliance Retail operates the largest, fastest growing and most profitable retail business in India with close to 640 million visitors. “Reliance Retail, through its new commerce strategy, has initiated a transformative digitization of small and unorganized merchants and is committed to expanding the network to more than 20 million of these merchants, helping them benefit from the use of technological tools and an efficient supply chain infrastructure to deliver a superior value proposition to its own customers, “the company said in a statement.
Silver Lake is a global technology investment firm, with more than $ 60 billion in combined assets under management and committed capital and a focus on the world’s great technology and technology-enabled opportunities. His other investments have included Airbnb, Alibaba, Alphabet’s Verily and Waymo units, Dell Technologies, Twitter, and many other global technology leaders.
Commenting on the transaction with Silver Lake, billionaire Mukesh Amabni previously said: “I am delighted to extend our relationship with Silver Lake to our transformative efforts to build an inclusive partnership with millions of small merchants while providing value to Indian consumers throughout the world. country in the Indian Retail Sector “.
“We believe technology will be key to achieving the much-needed transformation in this industry so that various components of the retail ecosystem can collaborate to build inclusive growth platforms. Silver Lake will be an invaluable partner in implementing our vision for Indian Retail.” , Additional Amabni.
Last month, Reliance acquired Future Group’s retail and logistics businesses to ₹24,713 crore to boost its retail vertical. Earlier this week, Reliance Industries raised ₹Rs 5,550 crore by selling a 1.28% stake in its retail business to US private equity (PE) company KKR and Co.
.
