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General Atlantic to invest Rs 3,675 crore in Reliance Retail Venture, third investor

General Atlantic to invest Rs 3,675 crore in Reliance Retail Venture, third investor

by Gracia Wales
in Finance News
1 min read
General Atlantic to invest Rs 3,675 crore in Reliance Retail Venture, third investor
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Private equity firm General Atlantic Partners has decided to invest Rs 3,675 crore in Reliance Retail. It will get a 0.84% stake in Reliance Retail. This is the third major investment in Reliance Retail. On Wednesday, Reliance Industries Limited and Reliance Retail Ventures Limited (“RRVL”) announced the investment. Reliance Retail’s pre-money equity in the deal was estimated at Rs 4.285 lakh crore.

At the beginning of the year, General Atlantic invested Rs 6,598.38 crore in Jio platforms. This is the second investment of General Atlantic in a subsidiary of Reliance Industries.

Reliance Group had a debt of Rs 1.60 lakh crore and Jio’s money has made the company net debt-free. So far, Silver Lake has invested Rs 7,500 crore and KKR 5,500 Rs. Abu Dhabi’s Mubadala investment is also planning to invest Rs 7,500 crore. It has invested in geo platform.

Reliance Retail Limited has about 64 crore buyers annually in more than 12,000 stores spread across the country. It is India’s largest and fastest-growing retail business. The company wants to develop a mechanism of retail global and domestic companies, small industries, retailers and farmers to provide affordable service to consumers and create millions of jobs.

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“I am happy that our relations with General Atlantic have been further strengthened,” said Mukesh Ambani, chairman and managing director, Reliance Industries. We are working to empower traders and consumers and ultimately change the picture of Indian retail. Like Reliance Retail, General Atlantic also believes in the digital potential for progress and growth. We look forward to even the expertise of General Atlantic and its experience of two decades of investment in India. Because we are developing a new commerce platform to change the appearance of retail in the country. ‘

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Gracia Wales

Gracia is a senior writer at Get Ignite, where she covers media and advertising and co-hosts the Original Content podcast. Previously, she worked as a tech writer at Adweek, a senior editor at the tech blog VentureBeat, and a local government reporter at the Hollister Free Lance. She attended Stanford University and now lives in Brooklyn.

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