- American equity firm Silver Lake Partners to invest Rs 7500 crores in Reliance retail business.
- Silver Lake Partners’ investment will convert 1.75% equity in Reliance Retail Ltd.
- The investment to Reliance Retail comes after the investment in Reliance Jio Platforms.
The giant American Equity firm Silver Lake is not to invest Rs 7500 crores ($1 Billion) in Reliance Retail business.
The investment of the Silver Lake will convert 1.75% equity in Reliance Retail Ltd.
According to the RIL Statement, The investment made by Silver Lake valued Reliance Retail at Rs 4.21 lakh crores ($57 billion approx).
Mukesh Ambani, CEO of RIL, Looking to expand its various businesses by adopting technology and foreign companies investment.
Earlier this year, Silver Lake invested Rs 5700 crores (approx.) in Reliance Jio Platforms. Following Facebook had invested Rs 43,754 crores for a 9.99% stake in Jio platforms.
Reportedly, Amazon Inc. was also in talks to buy a 9.9% stake in Reliance Retail business in July. According to the sources, Reliance Industries got more than Rs 1 lakh crore investment from foreign companies and investors.
Furthermore, The investment of Silver Lake Partners will help Reliance to expand its retail business to online to take on rivals such as Amazon India, Walmart owned-Flipkart in India, having a huge market share in the online retail industry.
Earlier this year, Reliance Retail launched its online shopping platform JioMart to take on Amazon, Flipkart and other e-commerce shopping websites.
Currently, RIL is valued at Rs 14.08 Trillion (Rs 14 lakh crores) after the investment by Silver Lake Partners.
Reliance Retail Limited, a subsidiary of RRVL (Reliance Retail Ventures Limited), operates India’s largest, fastest-growing, and most profitable retail business serving close to 640 million footfalls across its ~12,000 stores nationwide.
Moreover, Silver Lake Partners has a good record of investing in giant companies such as Alibaba Group, Twitter, Airbnb, Dell, Alphabet, etc.
“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. said, Mukesh Ambani, RIL CEO, and Director.
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.
“We are pleased to deepen our relationship with Reliance on this investment. Mukesh Ambani and his team at Reliance have created an outstanding world leader in retail and technology through their courageous vision, commitment to societal benefits, innovation excellence, and relentless execution. said, Egon Durban, Co-CEO and Managing Partner of Silver Lake