Reliance Industries Ltd (RIL) has announced that US fund Silver Lake will make its second tranche of investment into Reliance Retail Ventures Ltd by infusing an additional Rs 1,875 crore into the country’s largest retailer.
With the latest infusion, that was announced late on Wednesday, Silver Lake will take its total investment into the company to Rs 9,375 crore, raising its stake to 2.13% in the company from earlier 1.75%.
On 9 th September, Silver Lake was the first overseas fund to announce to invest Rs 7,500 crore for purchasing a 1.75% stake into India’s largest retailer by revenue.
Prior to announcing the second tranche of investment by Silver Lake, RIL on Wednesday morning said another US investment firm General Atlantic will invest Rs 3,675 crores in Reliance Retail Ventures Ltd picking 0.84%.
General Atlantic is the latest fund in a string of global investors including Silver Lake and KKR to invest in Reliance Retail in the last three weeks.
So far the three global investment firms have injected or announced to invest about Rs 18,600 crore in Reliance Retail valuing the company at Rs more than 4.20 lakh crore.
All the three funds had earlier this year invested in RIL other hottest property Jio Platforms. General Atlantic had earlier this year injected Rs 6,598 crore in the Reliance-owned telecom services provider.
ET had reported earlier this month that RIL is looking to raise about Rs 60,000-63,000 crore by selling a 15% stake in Reliance Retail to a bevy of global investors and the Mumbai conglomerate is also planning to induct an overseas strategic investor into the company.
