Reliance Industries Retail Arm Raises Rs 7,350 crore From TPG, GIC

  • Reliance Retail has now raised Rs 7,350 crore ($1 billion) from an American venture capital firm TPG, and Singapore’s sovereign wealth fund GIC.
  • TPG has invested Rs 1,837.5 crore, while Singapore’s GIC wealth fund to invest Rs 5,512.5 crore.

After raising investment for Jio Platforms, Reliance Industries retail arm Reliance Retail has now raised Rs 7,350 crore ($1 billion) from an American venture capital firm TPG, and Singapore’s sovereign wealth fund GIC.

Mukesh Ambani owned Reliance Retail will receive Rs 1,837.5 crore from an American venture capital firm TPG, while GIC is on the way to fuel Rs 5,512.5 crore in Reliance Retail.

Further, Through this deal, TPG will get a 0.41% equity stake, while GIC will get a 1.22% equity stake in Reliance Retail Venture Limited (RRVL) respectively.

According to the reports, With the completion of this deal, Reliance Industries will give a 1.63% stake in Reliance Retail.

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Since September 1, 2020, Reliance Retail has sold 7.28% for total Rs 32,197.50 crore (around $4.4 billion), While the latest successful investment was on October 1 led by UAE investment company Mubadala of Rs 6,247.5 crore for 1.4% stake.

“It gives me a great pleasure to welcome GIC to the Reliance Retail family. I am delighted that GIC, with its track record of close to four decades of successful long-term value investing across the world, is partnering with Reliance Retail in its mission to transform the Indian retail landscape,” said, Mukesh Ambani, Chairman & M.D, Reliance Industries.

“GIC’s global network and track record of long-term partnerships will be invaluable to the transformation story of Indian Retail. This investment is a strong endorsement of our strategy and India’s potential,” he added.

“GIC is pleased to partner with Reliance through this new investment, which will enable the company to position Reliance Retail for the strong secular growth in India’s retail market. We believe Reliance Retail will continue to use its extensive supply chain and store networks, as well as strong logistics and data infrastructure, to add value to its customers and shareholders,” said, Lim Chow Kiat, CEO, GIC.

Moreover, Reliance Retail has raised over Rs 32,197.50 crore (around $4.4 billion) from five investors including TPG, KKR, Silver Lake, General Atlantic, Mubadala, and GIC.

Reliance Industries retail arm Reliance Retail is the India’s largest retail business chain serving more than 640 million customers via their 12,000 stores across the country.

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