Companies

RIL and Reliance Retail raise Rs 47,265 crore investment in 2 months

Our Bureau. Mumbai | Updated on November 19, 2020 Published on November 19, 2020

Mukesh Ambani-owned Reliance Industries Limited and its retail arm Reliance Retail have raised Rs 47,265 crore in a span of two months. This investment was raised for a stake of 10.09 per cent. The funds will be used to enhance its presence in the New Commerce sector, and boosting the MSME growth.

 

Reliance Retail has managed to raise these monies from renown global investors including Silver Lake Partners, KKR, Mubadala, ADIA, GIC, TPG, General Atlantic and PIF and together allotted 69,27,81,234 equity shares to them.

Isha Mukesh Ambani, Director of Reliance Retail Ventures Limited, said, that their relationships with their partners will mutually benefit from their experience and global connectivity. “With our focus on New Commerce, we are committed to playing a transformational role in the Indian retail sector by empowering millions of merchants and micro, small and medium enterprises.”

 

Reliance Retail topped the list of ‘50 fastest-growing retailers globally between FY2013-2018’ in the Deloitte's Global Powers of Retailing 2020 index. Reliance Retail secured the 56th spot this year against the 94th rank the previous year and is the only Indian company to be featured in this list.

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Published on November 19, 2020
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