Reliance Retail raises second investment in a single day

Rajesh Kurup Mumbai | Updated on October 01, 2020

This is the third investment into Reliance Retail after Silver Lake and KKR

Silver Lake invests Rs 1,875 cr

Reliance Retail Ventures Ltd (RRVL), a subsidiary of Reliance Industries (RIL), has raised an additional Rs 1,875 crore from co-investors of Silver Lake.


This brings the aggregate investment by Silver Lake and its co-investors in RRVL to Rs 9,375 crore, which will translate into a 2.13 per cent equity stake in RRVL on a fully diluted basis. This latest investment values Reliance Retail at a pre-money equity value of Rs 4.285 lakh crore.

This is the second fund raising by the company in a single day. Earlier during the day, RRVL raised Rs 3,675 crore from General Atlantic.

Also read: General Atlantic to invest ₹3,675 cr in Reliance Retail

“Silver Lake and its co-investors are valued partners on our journey to transform Indian retail for the benefit of all Indians. We are pleased to have their confidence and support, as well as the benefit of their leadership in global technology investing and their valued network of relationships for the retail revolution in India. Silver Lake’s additional investment is a strong endorsement of the tremendous potential of Indian retail and the capabilities of Reliance Retail,” RIL Chairman and Managing Director Mukesh Ambani said.


Morgan Stanley acted as financial advisor to Reliance Retail and Cyril Amarchand Mangaldas and Davis Polk & Wardwell acted as legal counsels. Latham & Watkins and Shardul Amarchand Mangaldas & Co acted as legal counsels for Silver Lake.

“We are delighted to increase our exposure and bring more of our co-investors into this unmatched opportunity. The continued investment momentum over the last few weeks is proof of the compelling vision and business model of Reliance Retail – and underscores the tremendous potential of the transformative New Commerce initiative,” Egon Durban, Co-CEO and Managing Partner of Silver Lake, said.

Also read: Reliance Retail Ventures raises ₹7,500 crore from Silver Lake

Published on September 30, 2020

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