Two more companies invested in Reliance Retail, five big investments in the company in last four days
new Delhi. Continuation of investment in Reliance Retail, the company of Asia’s wealthiest person Mukesh Ambani, continues. Billionaire Mukesh Ambani-led Reliance Industries said on Saturday that Singapore’s Sovereign Wealth Fund (GIC) and Global Private Equity Firm (TPG Capital) jointly sold 350 7,350 crore (approximately $ 1 billion) in their retail unit. ) Has invested. Mukesh Ambani-controlled Reliance Industries has received over $ 2 billion in investments from global investors in Reliance Retail Ventures over the past few months, including KKR & Co, Abu Dhabi State Fund Mubadala and Silver Lake Partners.
Two more companies invested in Reliance Retail
The company said that GIC would invest ₹ 5,512 crore for a 1.22 percent stake, while TPG Capital Management would invest 1,838 crore with a 0.41 percent equity stake in the retail sector. Reliance Industries said that the company gets a pre-money equity value of 4.285 lakh crore ($ 58.47 billion) from investment in Reliance Retail. This is TPG Capital’s second investment in Reliance. In June, the firm invested $ 598 million in Reliance’s digital arm Jio Platforms. According to a news agency, in September, Reliance Retail Industries has approached investors in the Jio platform. Reliance Industries, already India’s largest retailer, is acquiring Future Group’s retail business in August with a deal of around $ 12,000, a $ 3.38 billion deal. Let me tell you here that in the last four days, five big investments have come in the company.
Mukesh Ambani said this
Significantly, Reliance Group is also expanding its so-called new commerce venture, which is the flagship of Walmart Inc.’s Flipkart and Amazon.com Inc.’s Indian arm, for online delivery of groceries, apparel and electronics. Connects neighborhood stores. Reliance Industries Chairman Mukesh Ambani has expressed happiness over both investments. He said that there is a need to change the eco system of the retail sector in the country. Therefore, GIC and TPG Capital will be very helpful in this matter. He said that I appreciate GIC’s excellent track record of investing in business.