Companies

Reliance Retail raises total Rs 32,197.50 crore in lieu of 7.28 per cent stake

Rajesh Kurup Mumbai | Updated on October 03, 2020 Published on October 03, 2020

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

The latest tranche came in late last night

Reliance Retail Ventures Ltd (RRVL), which has been on a fund-raising spree since September 9, has raised a total of Rs 32,197.50 crore from global investors in lieu of a 7.28 per cent stake. Mostly, the investments came in at a pre-money equity value of Rs 4.285-lakh crore.

 

The latest tranche came in late last night, with RRVL, a subsidiary of Asia’s richest man Mukesh Ambani-controlled Reliance Industries Ltd (RIL), raising Rs 7,350 crore in two back-to-back deals.

 

On Friday night, RRVL raised Rs 1,837.5 crore from TPG in lieu of a 0.41 per cent stake, which was immediately preceded by a Rs 5,512.5-crore funding from GIC in exchange for a 1.22 per cent stake.

Read the story: TPG will invest ₹ 1,837.5 crore into Reliance Retail

Read the story: Reliance Retail raises Rs 5,512.5 crore from GIC

Prior to this, RRVL, raised Rs 6,247.5 crore from Abu Dhabi-based Mubadala Investment Co in exchange of a 1.4 per cent stake.

Also Read: Abu Dhabi-based Mubadala picks 1.4% in Reliance Retail for ₹6,247.5 crore

Earlier on September 30, the firm raised two investments in a single day, one from co-investors of Silver Lake (Rs 1,875 crore) and another from General Atlantic (Rs 3,675 crore). RRVL pared 0.38 per cent stake to co-investors of Silver Lake and 0.84 per cent to General Atlantic.

Read the story: Reliance Retail raises second investment in a single day

On September 23, RRVL had raised Rs 5,550 crore from KKR & Co in exchange for a 1.28 per cent stake, while the fund-raising spree started with the firm raising Rs 7,500 crore from Silver Lake Partners on September 9.

Read the story: KKR puts ₹5,550 cr in RIL retail arm; are TPG, ADIA coming in?

Read the story: Reliance Retail Ventures raises ₹7,500 crore from Silver Lake

While most of the investments came in at a pre-money equity value of Rs 4.285-lakh crore, the initial investments by KKR and Silver Lake deals valued RRVL at Rs 4.21-lakh crore.

 

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Published on October 03, 2020
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