Mukesh Ambani is now raising funds for a retail company after investing heavily in jio platforms. Reliance Retail has now got a third investor. The equity firm will buy a 0.84 per cent stake in General Atlantic Company. The company will invest about Rs 3,675 crore in Reliance. Reliance Retail has a pre-equity value of Rs 4.285 lakh crore for the deal. This is the second time the company has invested in Reliance. Earlier, General Atlantic had announced an investment of Rs 6,598.38 crore in jio platforms.
Earlier, Silver Lake had announced an investment of Rs 7,500 crore in Reliance Retail. The company has bought a 1.75 per cent stake in Reliance Retail. US-based KKR has also invested Rs 5,550 crore in Reliance Retail.
Mukesh Ambani and Isha Ambani, director of Reliance Retail, also expressed happiness over General Atlantic’s investment. Mukesh Ambani said, “I am happy that our relationship with General Atlantic has become stronger. We are working to empower traders and consumers and ultimately transform the Indian retail sector.
Bill Ford, CEO of General Atlantic, said of the investment that General Atlantic supports Mukesh Ambani’s work to bring about positive change in the country’s retail sector. General Atlantic has full confidence in Reliance Industries. It is our honor to partner with Reliance.