- Reliance Retail said that by selling 10.09% shares to investors such as Silver Lake Partners, KKR & others it has earned Rs 47,265 CR
Reliance Retail said today that by selling 10.09 percent shares to investors such as Silver Lake Partners, KKR, ADIA, and others it has earned Rs 47,265 crore. Reliance Industries and Reliance Retail Ventures Limited (RRVL) have completed the current phase of the exercise of partner induction and fundraising for RRVL, the official release said.
Here is the list of investors with their respective stakes-
- Silver Lake Partners (Rs 7,500 crore) – 1.60%
- Silver Lake Partners – (Rs 1,875 crore) – 0.40%
- KKR (Rs 5,550 crore) – 1.19%
- Mubadala (Rs 6,247.50 crore) – 1.33%
- ADIA (Rs 5,512.50 crore) – 1.18%
- GIC (Rs 5,512.50 crore) – 1.18%
- TPG (Rs 1,837.50 crore) – 0.39%
- General Atlantic (Rs 3,675 crore) – 0.78%
- PIF (Rs 9,555 crore) – 2.04
- Total (Rs 47,265 crore) – 10.09%
In RRVL, we are proud to have such good and reputable partners. “We are honored by the phenomenal interest shown in our company by investors and look forward to working with our partners to benefit from their experience and global connectivity,” said RRVL Director Isha Mukesh Ambani.
With an emphasis on new commerce, through empowering millions of merchants and micro, small and medium enterprises, RRVL is committed to playing a transformative role in the Indian retail market, she added.
Reliance Industries recently learned that the Abu Dhabi Investment Authority and the Public Investment Fund (PIF) of Saudi Arabia have invested Rs 3,779 crore each in the network of Jio Fibre. The Gulf sovereign wealth funds will hold a total of 51 percent of the Digital Fibre Infrastructure Trust (DFIT) infrastructure investment trust (InvIT), while the remaining 49 percent will be owned by various Reliance entities.
Digital Fibre Infrastructure Trust, meanwhile, plans to raise Rs 14,700 crore by issuing 1.47 billion units, priced to investors through a private placement at Rs 100 apiece. According to the filing by the Securities and Exchange Board of India, it also intends to collect Rs 25,000 crore through a loan from group companies to minimize existing debts and finance business expansion.
RRVL’s subsidiary, Reliance Retail Ltd, operates India’s biggest, fastest-growing retail company serving nearly 640 million footfalls in its 12,000 stores nationwide. Supermarkets, consumer electronics retail stores, cash and carry wholesale business, fast-fashion outlets, and JioMart online grocery store are part of its business.
The investments equip Reliance Retail with funds to compete in both offline and online formats and provide ammunition to combat rivals such as Flipkart and Amazon, the Walmart-owned e-commerce firm.
The new funding came weeks after Reliance purchased Future Group’s retail, wholesale, logistics, and warehouse sector for an enterprise value of Rs 24,173 crore to strengthen its dominant offline retail market positioning.
Earlier, from investors such as Facebook, Intel, and Google, Reliance raised an incredible Rs 1.52 lakh crore for Jio Platforms, the group’s telecom and digital services business.
The oil-telecom-to-retail conglomerate plans to divest minority interests in its digital and retail businesses and to conduct, within five years, initial public offerings for both of them.
JioMart, an e-commerce company, was launched by Reliance Retail in May this year to connect mom-and-pop stores, named Kirana, with customers.