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- SILVER LAKE TO INVEST ₹ 7,500 CRORE IN RELIANCE RETAIL VENTURES AT AN EQUITY VALUE OF ₹ 4.21 LAKH CRORE
Mumbai17 minutes ago
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Prior to Reliance Retail, Silver Lake has also invested in Mukesh Ambani's second company Jio. (File photo)
- In return for this investment, the company will get 1.75% stake in Reliance Retail
- Silver Lake also invested in Reliance's tech company Jio Platforms
Reliance Industries Limited (RIL) has announced that US-based private equity firm Silver Lake will invest Rs 7,500 crore in its subsidiary Reliance Retail Ventures Limited (RRVL). In return, the company will get 1.75 per cent stake in Reliance Retail. Earlier, Silver Lake also invested in Reliance's tech company Jio Platform.
Millions of people and small traders will benefit: Ambani
On this deal with Silver Lake, Mukesh Ambani, Chairman and Managing Director of Reliance Industries said, “I am delighted with the partnership with Silver Lake. It will benefit small traders with millions. We believe that technology It will be important to bring about the much needed change in this area, so that various components of the retail eco system can support the creation of inclusive development platforms. “
Reliance Retail valued at Rs 4.21 lakh crore
According to the report, this investment of Silver Lake is being made on the basis of Reliance Retail's value of Rs 4.21 lakh crore. Mukesh Ambani-led Reliance Industries is planning to sell a 10 per cent stake in its retail subsidiary Reliance Retail. The stake will be sold as a new share. However, Silver Lake and Reliance Industries have not responded to the stake sale.
Mukesh Ambani is preparing to enter the retail business
Mukesh Ambani, chairman of Reliance Group, which deals in oil to telecom business, is preparing to enter the retail business in India. Mukesh Ambani is looking for potential investors for this expansion. A recent media report claimed that US-based retail giant Walmart Inc is also in talks to buy a stake in Reliance Retail. Walmart Inc also bought India's leading e-commerce company Flipkart in 2018.
Reliance Retail and Future Group deal for 24713 crores
Reliance Retail Ventures Ltd (RRVL), a subsidiary of Reliance Industries, is going to acquire the retail and wholesale business and logistics and warehousing business of Future Group. This will allow Reliance to reach over 1,800 stores of Future Group's Big Bazaar, EGDAY and FBB, spread across 420 cities in the country. This deal has been finalized in 24713 crores.
About Reliance Retail Ventures Limited (RRVL)
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.162936 crore for the financial year ended March 31, 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 659205 crores. At the same time, the company had a profit of Rs 39880 crore in the financial year ended 31 March 2020.