Reliance raises ₹ 7,350 crore from GIC, TPC

Through two seperate deals, Reliance Industries will sell 1.63% stake in Reliance Retail Venture Limited (RRVL).

Highlights :

Reliance raises ₹ 7,350 crore from GIC, TPC
In less than 3 days Reliance Industries has entered into 5 deals to sell stake in RRVL.
Through two seperate deals, Reliance Industries will sell 1.63% stake in Reliance Retail Venture Limited (RRVL).

Reliance Industries Limited on Friday announced to raise ₹ 7,350 crore from two investors - Singapore's Sovereign Wealth Fund GIC and Global alternative asset firm TPG, by selling a stake in group's retail arm.

Through two seperate deals, Reliance Industries will sell 1.63% stake in Reliance Retail Venture Limited (RRVL).

GIC will invest ₹5,512.5 crore to buy 1.22% stake and TPG will invest ₹ 1,837.5 crore to buy 0.41% stake in RRVL.

In less than 3 days Reliance Industries has entered into 5 deals to sell stake in RRVL.

Isha Ambani, Director of Reliance Retail, said, “We are delighted to welcome TPG to the Reliance Retail family in our journey of revolutionizing the Indian Retail landscape and improving the economic prospects of millions of merchants and enhancing the consumer experience. TPG’s rich experience will be invaluable to the Reliance Retail mission.” TPG is making the investment from its TPG Capital Asia fund.

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