Billionaire Mukesh Ambani’s Reliance Industries Ltd (RIL) on Saturday said it has received Rs 7,500 crore from US private equity firm Silver Lake Partner SLP Rainbow
This is the second billion-dollar investment by Silver Lake in a Reliance Industries subsidiary after the USD 1.35 billion investment in Jio Platforms announced earlier this year.
Its other investments have included Airbnb, Alibaba, Alphabet’s Verily and Waymo units, Dell Technologies, Twitter and numerous other global technology leaders.
About Silver Lake
Silver Lake is the global leader in large scale technology investing With more than USD 60 billion in combined assets under management and committed capital and a focus on the world’s great tech and tech-enabled opportunities.
Silver Lake was the first US private equity firm to invest in Jio after tech giant Facebook took a 9.99 per cent stake in the company for Rs 43,573.62 crore
Silver Lake bought 2.08 per cent in Jio in two tranches for a total of Rs 10,202.55 crore.
About Reliance Retail
Reliance Retail operates India’s largest, fastest growing and most profitable retail business serving close to 640 million footfalls.
Reliance Retail, through its new commerce strategy, has started a transformational digitalisation of small and unorganised merchants
It has committed to expanding the network to over 20 million of these merchants, helping them benefit from the use of technology tools and efficient supply chain infrastructure
Late last month, Reliance acquired the retail and logistics businesses of Future Group for Rs 24,713 crore to boost its retail vertical.
Earlier this week, Reliance Industries raised ₹5,550 crore by selling a 1.28% stake in its retail business to US private equity (PE) firm KKR and Co.
Holdings of SLP Rainbow
Following the allotment of equity stake SLP Rainbow Holdings holds 1.75 per cent of the fully diluted equity share capital
RRVL Valuation
The latest Investment had valued RRVL at a pre-money equity value of Rs 4.21 lakh crore.
Comment from RIL Director
“I am delighted to extend our relationship with Silver Lake to our transformational efforts of building an inclusive partnership with millions of small merchants while providing value to Indian consumers across the country in the Indian retail sector.”
“We believe technology will be key to bringing the much-needed transformation in this sector so that various constituents of the retail ecosystem can collaborate to build inclusive growth platforms. Silver Lake will be an invaluable partner in implementing our vision for Indian Retail.”
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Pic credit:
Featured Image – Live Mint
