General Atlantic to invest Rs. 3,675 crore in Reliance Retail by admin- Wednesday, September 30th, 2020 04:57:22 PM
Reliance Retail Ventures Ltd (RRVL) introduced that General Atlantic (a main global growth fairness company) will invest Rs. Three,675 crore into RRVL for zero.84% stake in RRVL on absolutely diluted foundation. This funding values Reliance Retail at a pre-cash equity value of Rs. 4.3 lakh crore (which is 2% better than preceding deals with Silver Lake and KKR).
Reliance Retail Venture’s subsidiary Reliance Retail operates India’s biggest retail business serving close to 640 million footfalls across its 12,000-odd
shops national in 7000 towns.
The funding values Reliance Retail at a pre-cash equity value of Rs. 4.28 lakh crore, slightly higher than the preceding two deals performed at a valuation of Rs. 4.21 lakh crore.
This is likewise the second funding via General Atlantic in a Reliance company. In May this year, it had stated it’ll make investments Rs. 6598 crore in Jio Platforms, the virtual services platform of RIL.
The transaction is situation to regulatory and other customary approvals.