Reliance Retail Ventures Limited (RRVL) on Thursday announced that it had raised Rs 47,265 crore by selling 10.09% stake of the company in a span of less than two months. RRVL said in a statement that it has received a total subscription amount of Rs 47,265 crore from the financial partners and allotted 69,27,81,234 equity shares to them.
Reliance Retail’s fund-raising started with Silver Lake, which had earlier invested in Jio Platforms, investing Rs 7,500 crore in the company for a 1.60% stake. It was followed by a second investment of Rs 1,875 crore in exchange for a .040% stake in the company. This totaled to Silver getting a 2% stake on making an investment of Rs 9,375 stake in the company.
Silver Lake’s investment was followed by subsequent investments by KKR, Mubadala, ADIA, GIC, TPG, General Atlantic and PIF.
“We are proud to have such strong and reputed partners in RRVL. We feel honoured by the phenomenal interest shown by investors in our business and look forward to working with our partners to benefit from their experience and global connectivity. With our focus on New Commerce, we are committed to playing a transformational role in the Indian retail sector by empowering millions of merchants and micro, small and medium enterprises,” RRVL Director Isha Ambani said in a statement.
Disclosure: News18.com is part of Network18 Media & Investment Limited which is owned by Reliance Industries Limited
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