NEW DELHI: Reliance Industries Limited (RIL) on Wednesday announced that New York-based General Atlantic will invest Rs 3,675 crore for a 0.84 per cent stake in its retail arm — Reliance Retail Ventures Limited (RRVL) — making it the latest in a series of investments at the oil-to-telecoms conglomerate.
In a regulatory filing to the bourses, the company said that the investment values Reliance Retail at a pre-money equity value of Rs 4.285 lakh crore. General Atlantic’s investment will translate into a 0.84 per cent equity stake in on a fully diluted basis.
“Reliance Retail’s vision is to galvanize the Indian retail sector through an inclusive strategy serving millions of customers by empowering millions of farmers and micro, small and medium enterprises (MSMEs) and working closely with global and domestic companies as a preferred partner, to deliver immense benefits to Indian society, while protecting and generating employment for millions of Indians,” the company said.

This is second investment by General Altantic in a subsidiary of RIL. The company had earlier invested Rs 6,598 crore into RIL’s telecom business Jio Platforms.
Extending the relationship with General Atlantic, chairman and managing director of RIL Mukesh Ambani said: “We look forward to leveraging General Atlantic’s extensive expertise at the intersection of technology and consumer businesses, and two decades of experience investing in India, as we create a disruptive New Commerce platform to redefine retail in the country.”

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