RIL sells 1.75% stake in Reliance Retail to Silver Lake for Rs 7,500 cr
This is the second billion-dollar investment by Silver Lake in RRVL after the $1.35 billion investment in Jio Platforms announced earlier this year.
This is the second billion-dollar investment by Silver Lake in RRVL after the $1.35 billion investment in Jio Platforms announced earlier this year.
It is worth mentioning that Silver Lake was the first US private equity firm to invest in Jio.
Late last month, Reliance acquired the retail and logistics businesses of Future Group for Rs 24,713 crore to boost its retail vertical.
The investment comes at a time when the Reliance Retail is aiming to raise $5.7 billion by selling around 10 per cent in new shares.
In a regulatory filing, the oil-to-telecom conglomerate named four companies who have completed buying subscriptions in Reliance Jio.
Strategic and financial investors are to form 20 per cent of Jio Platform, half of which was already picked by Facebook.
