India’s Reliance Retail Receives $1b from Tech Investor Silver Lake
by DealStreetAsia 2020-09-28
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source: The India Express

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.

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