Reliance Retail Ventures Limited, the retail business of Mukesh Ambani’s Reliance Industries Ltd, has received ₹7,500 crore from tech investor Silver Lake, the company said in a stock exchange filing on Saturday.
“Reliance Retail Ventures Limited has allotted equity shares to SLP Rainbow Holdings Pte. Ltd. following which SLP Rainbow Holdings Pte. Ltd. holds 1.75% of the fully diluted equity share capital of Reliance Retail Ventures Limited,” the company said.
Reliance had announced on 9 September that Silver Lake would buy 1.75% stake in Reliance Retail for ₹7,500 crore.
Silver Lake’s is the first investment in Reliance Retail after Ambani raised around ₹1.5 trillion through stake sales in Jio Platforms.