{"id":326988,"date":"2020-09-30T06:31:36","date_gmt":"2020-09-30T06:31:36","guid":{"rendered":"http:\/\/tehelka.com\/?p=326988"},"modified":"2020-09-30T06:31:46","modified_gmt":"2020-09-30T06:31:46","slug":"general-atlantic-to-invest-rs-3675-crore-in-reliance-retail-ventures","status":"publish","type":"post","link":"https:\/\/tehelka.com\/general-atlantic-to-invest-rs-3675-crore-in-reliance-retail-ventures\/","title":{"rendered":"General Atlantic to invest Rs 3,675 crore in Reliance retail ventures"},"content":{"rendered":"

\"\"<\/a>Reliance Industries Limited and Reliance Retail Ventures Limited (RRVL) on Wednesday announced that General Atlantic, a leading global growth equity firm, will invest Rs 3,675 crore into RRVL, a subsidiary of Reliance Industries. This investment values\u00a0<\/span>Reliance Retail at a pre-money equity value of Rs 4.285 lakh crore. General Atlantic\u2019s investment will translate into a 0.84% equity stake in RRVL on a fully diluted basis.<\/span><\/p>\n

This marks the second investment by General Atlantic in a subsidiary of Reliance Industries, following a Rs 6,598.38 crore investment in Jio Platforms announced earlier this year.<\/span><\/p>\n

Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said, \u201cI am pleased\u00a0<\/span>to extend our relationship with General Atlantic as we work towards empowering both merchants and\u00a0<\/span>consumers alike, and ultimately transforming Indian Retail. Like Reliance Retail, General Atlantic\u00a0<\/span>believes in the fundamental ability of digital enablement to drive progress, growth, and inclusion across\u00a0<\/span>India and the world. We look forward to leveraging General Atlantic\u2019s extensive expertise at the\u00a0<\/span>intersection of technology and consumer businesses, and two decades of experience investing in India,\u00a0<\/span>as we create a disruptive New Commerce platform to redefine retail in the country.\u201d<\/span><\/p>\n

Bill Ford, Chief Executive Officer of General Atlantic, said, \u201cGeneral Atlantic is thrilled to be\u00a0<\/span>backing Mukesh\u2019s New Commerce mission to drive substantial positive change in the country\u2019s retail\u00a0<\/span>sector, which goes hand-in-hand with his vision to enable a Digital India through the work of Jio\u00a0<\/span>Platforms. General Atlantic shares Reliance Industries\u2019 foundational belief in the power of technology\u00a0<\/span>to foster transformative growth, and we are excited by the immense potential of the full Reliance\u00a0<\/span>ecosystem. We are honored to again be partnering with the Reliance team to meaningfully accelerate\u00a0<\/span>India\u2019s position in the global digital economy.\u201d<\/span><\/p>\n

On September 23, global investment firm KKR announced to invest Rs 5,550 crore into RRVL. The investment by KKR will translate into a 1.28 per cent equity stake in RRVL.<\/span><\/p>\n

RRVL is a subsidiary of Reliance Industries Limited and holding company of all\u00a0<\/span>the retail companies under the RIL Group. RRVL reported a consolidated turnover of Rs 162,936 crore\u00a0<\/span>($ 21.7 billion) and net profit of Rs 5,448 crore ($ 726.4 million) for the year ended March 31, 2020.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Reliance Industries Limited and Reliance Retail Ventures Limited (RRVL) on Wednesday announced that General Atlantic, a leading global growth equity firm, will invest Rs 3,675 crore into RRVL, a subsidiary of Reliance Industries. This investment values\u00a0Reliance Retail at a pre-money equity value of Rs 4.285 lakh crore. General Atlantic\u2019s investment will translate into a 0.84% […]<\/p>\n","protected":false},"author":37,"featured_media":326989,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[167],"tags":[13505,3132,13470],"_links":{"self":[{"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/posts\/326988"}],"collection":[{"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/users\/37"}],"replies":[{"embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/comments?post=326988"}],"version-history":[{"count":2,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/posts\/326988\/revisions"}],"predecessor-version":[{"id":326991,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/posts\/326988\/revisions\/326991"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/media\/326989"}],"wp:attachment":[{"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/media?parent=326988"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/categories?post=326988"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/tags?post=326988"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}