Mumbai: GENERAL ATLANTIC again does Rs.3,675 crore investment in Mukesh Ambani’s company, in return, the company will get a 0.84 per cent stake in Reliance Retail.
This is the third investment in the Reliance Retail company, and second investment of GENERAL ATLANTIC in Reliance. Earlier, it had announced to invest Rs.6,598.38 crore in Jio platforms.
Earlier this month, world famous tech investor company Silver Lake also announced to invest Rs.7500 crore in Reliance Retail. In return, the company has got a 1.75 per cent stake in Reliance Retail.
Recently, American company KKR also bought a 1.75 percent stake in Reliance Retail for Rs.5550 crore. Reliance Retail Limited is a subsidiary of RRVL and operates 12,000 stores across the country.
Mukesh Ambani, chairman and managing director of Reliance Industries, said, “We are very happy to pursue our relationship with General Atlantic. We are working towards empowering both merchants and consumers alike and ultimately transforming Indian retail. Like Reliance Retail, General Atlantic believes in the fundamental potential of digital enablement for growth, development and inclusion in India and around the world“.