Reliance Industries (RIL) has informed on Wednesday that the private equity firm will invest an additional Rs 1,875 crore in the co-investor retail unit of Silver Lake Partners. After this, the total investment in Reliance Retail Ventures Limited (RRVL) by Silver Lake and its co-investors has reached Rs 9,375 crore. Silver Lake’s total stake in RRVL now stands at 2.13 per cent. This investment in Reliance Retail is the second investment on September 30 and the fourth in the last three weeks. According to information given by Reliance in the Stock Exchange Filing, the pre-money equity value of Reliance Retail is around Rs 4.285 lakh crore.
On this deal RIL chairman and managing director Mukesh Ambani said, “Silver Lake and its co-investors are valued partners for the Indian retail sector benefiting all Indians.” We are happy to have their trust and support. We will get the benefit of their leadership in Global Technology Investing and Retail Review. This additional investment by Silver Lake demonstrates the potential and potential of Reliance Retail in the Indian retail sector. However, this transaction is subject to regulatory approvals. Morgan Stanley played the role of Financial Advisor for Reliance Retail. Whereas, Cyril Amarchand Mangaldas and Davis Polk & Wardwell acted as legal counsel. Latham & Watkins and Shardul Amarchand Mangaldas & Co played the role of a legal consultant for Silver Lake