In yet another blockbuster mega deal amidst the coronavirus pandemic and the lockdown , Reliance Industries Limited and Reliance Retail Ventures Limited announced that American private equity giant Silver Lake will invest Rs 7,500 crore into RRVL, a subsidiary of Reliance Industries.
The investment by Silver Lake values RRVL at a pre-money equity value of Rs 4.21 lakh crores and with this its investment will translate into a 1.75 per cent equity stake in RRVL on a fully diluted basis.
Notably, this is the second billion-dollar investment by Silver Lake in a Reliance Industries subsidiary after the $1.35 billion investment in Jio Platforms announced earlier this year.
Commenting on the investment by Silver Lake, Mukesh Ambani, Chairman and Managing Director, Reliance Industries, said, “I am delighted to extend our relationship with Silver Lake to our transformational efforts of building an inclusive partnership with millions of small merchants while providing value to Indian consumers across the country in the Indian retail sector.”
“We believe technology will be key to bringing the much-needed transformation in this sector so that various constituents of the retail ecosystem can collaborate to build inclusive growth platforms. Silver Lake will be an invaluable partner in implementing our vision for Indian Retail,” he added.