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Reliance Retail raises Rs 47,265 cr fund from 10.09% stake sale

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Reliance Industries in a release said it has completed the sale of about 10% stake in its retail unit, Reliance Retail Ventures Ltd (RRVL) to several foreign investors for Rs 47,265 crore.

The company has sold a 10.09% stake in Reliance Retail Ventures Ltd (RRVL) to private equity firms Silver Lake Partners, KKR, GIC, TPG, and General Atlantic since September 25. Sovereign wealth funds like Mubadala, ADIA, and PIF have also brought a stake in RRVL.

Who bought what in Reliance Retail

“RRVL has received cumulative subscription amount of Rs 47,265 crore from the following financial partners and allotted 69.27 crore equity shares to them,” the company said in a statement. Silver Lake Partners bought a 2% stake in two tranches for Rs 9,375 crore while KKR invested Rs 5,550 crore for a 1.19% stake.

GIC and Abu Dhabi Investment Authority (AIDA) each bought 1.18% for Rs 5,512.50 crore. UAE’s Mubadala bought a 1.33% stake for Rs 6,247.50 crore.

Public Investment Fund, the sovereign wealth fund of Saudi Arabia, bought 2.04% for Rs 9,555 crore.

General Atlantic has invested Rs 3,675 crore for a 0.78% stake and TPG put in Rs 1,837.50 crore for 0.39%.

Reliance Retail Ltd, a subsidiary of RRVL, has 12,000 stores across the country including supermarkets, consumer electronics chain stores among others.

 

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