Business World

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). R eliance 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 economi...