RIL’s retail arm gets Rs. 7500 cr from Silver Lake by admin- Monday, September 28th, 2020 06:26:14 PM
Reliance Industries Ltd (RIL), led by means of Mukesh Ambani received Rs. 7,500 crore from Silver Lake Partners. The California-primarily based non-public equity firm earlier picked 1.75% stake in Reliance’s retail arm. On nine September, Reliance Industries introduced that Silver Lake might invest Rs. 7,500 crore in its arm Reliance Retail Ventures Ltd.
RRVL has received “the subscription quantity of Rs. 7,500 crore from SLP Rainbow Holdings Pte Ltd (Silver Lake). Following the allotment of equity stake, “SLP Rainbow Holdings holds 1.Seventy five% of the absolutely diluted equity proportion capital” of RRVL, it said.
This investment had valued RRVL at a pre-money equity cost of Rs. Four.21 lakh crore.
This marks the second investment with the aid of Silver Lake in a subsidiary of Reliance Industries, following a Rs. 10,202.55 crore investment in Jio Platforms introduced earlier this yr. It turned into the first US personal fairness company to spend money on Jio Platforms after tech large Facebook took a 9.Ninety nine% stake in the organization for Rs. Forty three,573.62 crore. Silver Lake sold 2.08% in Jio in two tranches.