Reliance Retail received Rs 7,500 crore from Silver Lake for a 1.75 per cent stake

 Reliance Retail received Rs 7,500 crore from Silver Lake for a 1.75 per cent stake:-

In addition, Silver Lake has invested in another subsidiary of Reliance Industries.  Earlier, the company had invested Rs 10,202.55 crore in the Reliance Jio platform in 2020 alone.

Mukesh Ambani-led Reliance Industries Limited (RIL) said on Saturday that it had received Rs 7,500 crore from Silver Lake Partners.  The US-based California-based private equity firm (SLP) has bought a 1.75 per cent stake in Reliance Retail.  On September 9, Reliance Industries announced that Silver Lake would buy a 1.75 per cent stake in Reliance Retail Venture Limited (RRVL) for Rs 7,500 crore.

Information provided by the company in the regulatory filing

Reliance Retail Ventures Ltd has received a subscription amount of Rs 7,500 crore from Silver Lake Partners, Reliance Industries said in an exchange filing on Saturday.  Following the equity stake allotment, SLP Rainbow Holdings has a total equity share capital of 1.75% in RRVL.  The investment by Silver Lake comes after RRVL's pre-money equity value stood at Rs 4.21 lakh crore.

Silver Lake has also invested in Geo platforms

In addition, Silver Lake has invested in another subsidiary of Reliance Industries.  Earlier, the company had invested Rs 10,202.55 crore in Reliance Jio Platforms in 2020 alone.

Silver Lake became the second US company after Facebook.  Who has invested in the Geo platform.  Silver Lake has twice bought a total stake of 2.08 per cent in the Geo platform.  Earlier, social media company Facebook announced a 9.99 per cent investment in the Geo platform.

Reliance Retail is the largest, brightest and fastest growing and most profitable Kamara retail business in the country.  Reliance Retail Business currently has about 640 million customers.

2 crore traders will benefit

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 The company said in a statement on Saturday that it was now digitizing the business of small and unorganized merchants under a new commerce strategy.  And this network is committed to reaching about 2 million merchants.  Reliance Retail said that with the help of technology tools, these businesses will benefit and efficient supply chain infrastructure will enhance the customer experience.