General Atlantic, a global growth equity firm, will invest ₹3,675 crore into Mukesh Amabani's Reliance Retail Venture.

This investment values Reliance Retail at ₹4.285 lakh crore.

General Atlantic’s investment will translate into a 0.84 per cent equity stake in RRVL on a fully diluted basis.

This marks the second investment by General Atlantic in a subsidiary of Reliance Industries, following a ₹6,598.38-crore investment in Jio Platforms announced earlier this year.

Third investment

This is the third investment into Reliance Retail.

On September 23, the company announced a ₹5,550-crore fund-raise from US-based investment firm KKR for a 1.28 per cent stake.

On September 8, an investment of ₹7,500 crore was announced by US-based Silver Lake. More deals are expected over the next few weeks, with the names of global investors TPG and Abu Dhabi Investment Authority (ADIA) doing the rounds.

Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said, “ 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.”

Bill Ford, Chief Executive Officer of General Atlantic, said, “General Atlantic shares Reliance Industries’ foundational belief in the power of technology to foster transformative growth, and we are excited by the immense potential of the full Reliance ecosystem.”

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