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- Mukesh Ambani Reliance Company Investment Update | Carlyle Group and Silver Lake Stake in Reliance (RIL) and Future Group Acquisition News
new Delhi9 minutes ago
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Reliance Retail Ventures Ltd, owned by Mukesh Abani, has made tremendous inroads into the retail market in 2020. Currently Reliance Retail has around 12 thousand stores in India.
- According to reports, this could be the first investment of Carlile Group into the retail sector
- Reliance Retail Ventures Limited ranked 56th among world's fastest growing retail companies
The Carlyle Group may buy a stake in India's Reliance Retail Ventures Limited (RRVL). According to media reports, the US company Carlyle can invest around $ 2 billion (Rs 14.69 thousand crore) in Reliance Retail. Earlier last week, Silver Lake also announced an investment of Rs 7500 crore in Mukesh Ambani-owned Reliance Industries subsidiary.
According to reports, this could be the first investment of Carlile Group in the retail sector. This investment of 2 billion dollars in the Indian retail sector may prove to be the biggest investment in this sector. The American company is working on plans to invest in online and offline retail companies in India. It also includes investment in Reliance Retail Vensors Limited. According to reports, negotiations between the two companies are on for investment. However, information related to the final deal may take time now.
Silver Lake invested 7,500 crores
Silver Lake Partners, another US-based company, also announced an investment in Reliance Retail last week. Silver Lake will pay Rs 7500 crore for a 1.75% stake in Reliance Retail. Earlier, Silver Lake has also invested in Reliance Jio Platform Limited.
According to media reports, about $ 5 billion (36.66 thousand crore rupees) can also be invested in Reliance Retail Ventures by KKR and Co., Mubadala Investment Company and Abu Dhabi Investment Authority. Reliance Retail Ventures Ltd, owned by Mukesh Ambani, has made tremendous inroads into the retail market in the year 2020. Currently Reliance Retail has around 12 thousand stores in India.
Future Group acquired
Earlier, Reliance Retail Ventures Ltd (RRVL), a subsidiary of Reliance Industries, acquired Future Group this year. The deal was finalized for Rs 24,713 crore. Now Reliance Retail is going to acquire the retail and wholesale business of Future Group and the logistics and warehousing business. This will allow Reliance to reach over 1800 stores of Future Group's Big Bazaar, Easyday and FBB, spread across 420 cities in the country.
Business of Reliance Retail Ventures Limited
Reliance Retail Ventures Limited is a subsidiary of Reliance Industries. It is the holding company of all the retail companies of Reliance Group. Reliance Retail Ventures Limited had a turnover of Rs 1,62,936 crore for the financial year ended 31 March 2020. At the same time, the company also made a profit of Rs 5448 crore.
The company is ranked 56th among the world's fastest growing retail companies. At the same time, Reliance Industries is the largest private company in the country. Its annual turnover is Rs 6,59,205 crore. At the same time, the company had a profit of Rs 39,880 crore in the financial year ended 31 March 2020.