Billionaire Mukesh Ambani’s Reliance Industries Ltd (RIL) on Saturday mentioned it has acquired Rs 7,500 crore from US personal fairness agency Silver Lake Companions, which has picked up 1.75 per cent stake in its retail arm. Earlier, on September 9, RIL had introduced that Silver Lake would make investments Rs 7,500 crore into its arm Reliance Retail Ventures Ltd (RRVL).
RRVL has acquired “the subscription quantity of Rs 7,500 crore from SLP Rainbow Holdings Pte Ltd (Silver Lake)”, RIL mentioned in a regulatory submitting on Saturday. Following the allotment of fairness stake, “SLP Rainbow Holdings holds 1.75 per cent of the totally diluted fairness share capital” of RRVL, it mentioned.
This funding had valued RRVL at a pre-money fairness worth of Rs four.21 lakh crore. That is the second billion-dollar funding by Silver Lake in a Reliance Industries subsidiary after the $ 1.35 billion funding in Jio Platforms introduced earlier this 12 months.
With greater than $ 60 billion in mixed property below administration and dedicated capital and a concentrate on the world’s nice tech and tech-enabled alternatives, Silver Lake is the worldwide chief in large-scale expertise investing. Its different investments have included Airbnb, Alibaba, Alphabet’s Verily and Waymo items, Dell Applied sciences, Twitter and quite a few different world expertise leaders.
Late final month, Reliance acquired the retail and logistics companies of Future Group for Rs 24,713 crore to spice up its retail vertical. Silver Lake was the primary US personal fairness agency to put money into Jio after tech large Fb took a 9.99 per cent stake within the firm for Rs 43,573.62 crore. Silver Lake purchased 2.08 per cent in Jio in two tranches for a complete of Rs 10,202.55 crore.
Rival personal fairness teams KKR, Vista and Basic Atlantic adopted Silver Lake to take stakes in Jio. Different notable buyers included Google and Abu Dhabi’s sovereign wealth fund Mubadala.
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