Reliance Industries and Reliance Retail Ventures Ltd (RRVL) on Wednesday announced that Silver Lake co-investors will invest an additional Rs. 1,875 crore in RRVL, a subsidiary of Reliance Industries.
The total investment in RRVL by Silver Lake and its co-investors now stands at Rs. 9,375 crore, which will translate into 2.13 per cent equity stake in RRVL on a fully diluted basis. This latest investment values Reliance Retail at an ex-money equity value of Rs. 4,28,500 crore.
Reliance Retail’s vision to deliver tremendous benefits to the Indian retail sector through an inclusive strategy by empowering millions of farmers and Micro, Small and Medium Enterprises (MSMEs) and working closely with global and domestic companies To act as a preferred partner for RRVL said in a release, for Indian society, while protecting and creating jobs for millions of Indians.
Reliance Retail, through its new commerce strategy, has embarked on a transformational digitization of small and unorganized merchants and is committed to expand the network of these merchants to over 20 million, the release said. An efficient supply chain infrastructure to deliver superior value proposition to its own customers.
Commenting on the total investment brought in by Silver Lake, Mukesh Ambani, Chairman and Managing Director, Reliance, said, “Silver Lake and its co-investors are important partners in our journey to transform Indian retail for the benefit of all Indians. We are pleased to benefit from their trust and support, as well as their leadership in global technology investments and their valuable network of relationships, to revolutionize retail in India. Silver Lake’s additional investment is a strong endorsement of the tremendous potential and capabilities of Indian retail. It’s Reliance Retail.”
Egon Durban, Co-CEO and Managing Partner, Silver Lake, said, “We are delighted to increase our exposure and bring our co-investors to this unique opportunity. The continued investment momentum over the past few weeks is compelling evidence. Reliance Retail Its vision and business model, and underscores the tremendous potential of transformative new commerce initiatives.”
The transaction is subject to regulatory and other customary approvals.
release Silver Lake is a global leader in technology at large with investments of over $60 billion (approximately Rs 4,40,853 crore) in combined assets under management and committed capital and focusing on the world’s great tech and tech-enabled opportunities. focuses.
It said Morgan Stanley acted as financial advisor to Reliance Retail and Cyril Amarchand Mangaldas and Davis Polk & Wardwell acted as legal advisors. Latham & Watkins and Shardul Amarchand Mangaldas acted as legal advisors for Silver Lake.
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