Reliance gains post announcing investment of Rs 7,500 crore by Silver Lake

Reliance Industries Limited announced on Wednesday that Silver Lake will invest Rs 7,500 crore into Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries. This investment values RRVL at a pre-money equity value of Rs 4.21 lakh crore, translating into a 1.75 per cent equity stake on a fully-diluted basis.

This is for the second time that Silver Lake has shown interest in investing in the subsidiary of Reliance Industries after the $1.35 billion investment in Jio Platforms, earlier this year.

Reliance Retail is one of the largest, fastest-growing and most profitable retail businesses, serving across 12,000 stores nationwide. The subsidiary has the vision to work closely with global & domestic companies as a preferred partner and also, to deliver immense benefits to Indian society while protecting and generating employment in India. It also has an inclusive strategy to serve customers by empowering farmers as well as micro, small & medium enterprises of the country.

Reliance Retail with its new commerce strategy has begun digitalisation of small and unorganised merchants with a hope to expand its network to over 20 million of the aforementioned merchants.

The share of Reliance Industries Limited around 3 pm was trading at Rs 2,160.00 with gains of 2.51 per cent thereby, outperforming the benchmark S&P BSE Sensex index, which was trading down by 0.52 per cent.