GIC, TPG to invest a total ₹7,350 cr. in RIL retail biz

Singapore fund, PE firm to buy stakes

Reliance has secured more than $2 billion in investments from global investors, including KKR & Co, Abu Dhabi state fund Mubadala and Silver Lake Partners, in Reliance Retail Ventures Ltd over the past few months.

Reliance Retail Ventures Ltd. (RRVL) said global investment firms GIC and TPG would invest ₹5,512.5 crore and ₹ 1,837.5 crore, respectively, in the company to acquire small minority stakes.

These investments value Reliance Retail at a pre-money equity value of ₹4.285 lakh crore, parent Reliance Industries Ltd. (RIL) said in filings with the stock exchanges on Saturday.

While GIC’s investment would translate into a 1.22% equity stake in RRVL on a fully-diluted basis, TPG would acquire a 0.41% equity stake in RRVL through its investment.

Also Read

General Atlantic to invest ₹3,675 crore in Reliance Retail Ventures

TPG would be making the investment from its TPG Capital Asia fund, and the infusion in RRVL would be the private equity firm’s second in an RIL subsidiary, following the ₹4,546.8 crore investment in Jio Platforms announced earlier this year.

The transactions would be subject to regulatory approvals, RIL said.