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General Atlantic to invest ₹3,675 crore in Reliance Retail for 0.84% stake

General Atlantic, a leading US-based global growth equity firm, will invest Rs 3,675 crore for a 0.84 percent stake in Reliance Retail.    

India TV Business Desk India TV Business Desk
New Delhi Published on: September 30, 2020 9:12 IST
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General Atlantic to invest ₹3,675 crore in Reliance Retail for 0.84% stake

General Atlantic, a leading US-based global growth equity firm, will invest Rs 3,675 crore for a 0.84 percent stake in Reliance Retail.

"This investment values Reliance Retail at a pre-money equity value of Rs 4.285 lakh crore. General Atlantic's investment will translate into a 0.84 per cent equity stake in Retail Retail Ventures Ltd (RRVL) on a fully diluted basis," the company said in a statement.

This is the second investment by General Atlantic in a subsidiary of Reliance Industries. Earlier this year, General Atlantic had invested Rs 6,598.38 crore in Jio Platforms.

"I am pleased to extend our relationship with General Atlantic as we work towards empowering both merchants and consumers alike, and ultimately transforming Indian Retail. Like Reliance Retail, General Atlantic believes in the fundamental ability of digital enablement to drive progress, growth, and inclusion across India and the world. We look forward to leveraging General Atlantic's extensive expertise at the intersection of technology and consumer businesses, and two decades of experience investing in India, as we create a disruptive New Commerce platform to redefine retail in the country," RIL Chairman and MD Mukesh Ambani said in a statement.

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