Reliance Industries Limited and Reliance Retail Ventures Limited announced today that co-investors of Silver Lake will invest an additional Rs 1,875 crore into RRVL, a subsidiary of Reliance Industries.
This brings the aggregate investment by Silver Lake and its co-investors in RRVL to ₹ 9,375 crore, which will translate into a 2.13 per cent equity stake in RRVL on a fully diluted basis.
This latest investment values Reliance Retail at a pre-money equity value of ₹ 4.285 lakh crore.
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 around 12,000 stores nationwide.
With more than $60 billion in combined assets under management and committed capital and a focus on the world’s great tech and tech-enabled opportunities, Silver Lake’s other investments have included Airbnb, Alibaba, Alphabet’s Verily and Waymo units, Dell Technologies, Twitter and numerous other global technology leaders.
Commenting on the aggregate investment brought by Silver Lake, Mr. Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said, “Silver Lake and its coinvestors 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.”