US equity firm Silverlake to buy 1.75 per cent stake in Reliance Retail for Rs 7,500 crore

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Mumbai, 26 September 2020 Saturday

Mukesh Ambani-owned Reliance Retail has received Rs 7,500 crore from US private equity firm Silverlake Partners. Instead, Reliance Retail has sold its 1.75 per cent stake. Silver Lake, a subsidiary of Industries, has already bought a stake in the Reliance Jio platform for 35 1.35 billion, or about Rs 10,000 crore. The company has increased its investment in the Jio platform in two installments.

Although US equity firm KKRA has also announced an investment of Rs 5,550 crore in Reliance Retail, KKRA, like Silver Lake, is the second investment in the Reliance Industries Group. US equity firm KKR has invested 1.5 1.5 billion (about Rs 11,367 crore) in the platform.

According to various reports, social media site Facebook has invested about Rs 45,000 crore on the Geo platform as well as about 10 per cent stake in Reliance Retail. However, Amazon will be betting on Reliance Industries for the first time.

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