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General Atlantic to invest Rs 3,675 cr in Reliance Retail for 0.84% stake

 This is the second such investment by General Atlantic in a Reliance venture following a Rs 6,598.38 crore investment in Jio Platforms announced earlier this year

Mukesh Ambani, Chairman & MD, RIL

General Atlantic, a leading global growth equity firm will invest Rs 3,675 cr in Reliance Retail Ventures Limited, RIL said in a BSE filing on Wednesday. General Atlantic’s investment will translate into a 0.84% equity stake in RRVL. The deal values Reliance Retail at a pre-money equity value of Rs 4.285 trillion, said RIL in a media release.

Reliance Retail Ventures Limited is a subsidiary of Reliance Industries Limited, and holding company of all the retail companies under the RIL Group. It reported a consolidated turnover of Rs 162,936 crore ($ 21.7 billion) and net profit of Rs 5,448 crore ($ 726.4 million) for the year ended March 31, 2020. General Atlantic had also invested Rs 6,598.38 crore in another RIL subsidiary, Jio Platforms earlier this year.

ALSO READ: Mubadala in advanced talks to invest up to $1 bn in Reliance Retail: Report

“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,” said RIL Chairman and MD, Mukesh Ambani in a statement…


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