Silver Lake to invest in Reliance Retail
On Friday the Private equity firm Silver Lake is looking to invest close to $1 billion (Rs 7,342 crore) in Mukesh Ambani’s Reliance Retail for about 1.8% stake, people with knowledge of the matter told The Financial Times.
Reliance Retail, controlled by Reliance Industries Limited, is aiming to raise up to $5.7 billion for a 10% stake, the people said.
Previously, Silver Lake invested in Reliance Industries’ digital arm Jio Platforms in two tranches of $747 million and $600 million.
Jio Platforms cumulatively raised close to $20 billion from 13 global investors this year. All these investors have also been given a chance to back Reliance Retail, the people said.
Reliance Industries last week agreed to buy the retail and logistics assets of Future Group for $3.4 billion.