Reliance Industries Ltd and its subsidiary Reliance Retail Ventures Limited (RRVL) recently announced that global investment firms TPG and GIC will respectively invest ₹1,837.5 crore and ₹5,512.5 crore in RRVL. Both investments value Reliance Retail at a pre-money equity value of ₹4.285 lakh crore. This is the second investment by TPG in a Reliance subsidiary, following a ₹4,546.8-crore investment in Jio Platforms announced earlier this year.
The TPG and GIC investments will respectively translate into 0.41 per cent and 1.22 per cent equity stakes in RRVL on a fully diluted basis, according to a Reliance Industries press release.Reliance Industries and its subsidiary Reliance Retail Ventures Limited (RRVL) recently announced that global investment firms TPG and GIC will respectively invest ₹1,837.5 crore and ₹5,512.5 crore in RRVL. Both investments value Reliance Retail at a pre-money equity value of ₹4.285 lakh crore. This is the second investment by TPG in a Reliance subsidiary. #
TPG is making the investment from its TPG Capital Asia fund.
The transaction is subject to regulatory and other customary approvals.
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