After raising investments in renowned geo platforms, Mukesh Ambani is now engaged in raising funds for his retail company. The retail business of Reliance Industries, a company owned by Mukesh Ambani, has taken a barrage of investments. Singapore Sovereign Wealth Fund GIC and global investment firm TPG Capital have announced an investment of about Rs 7350 crore in Reliance Retail Ventures Ltd. for a total of one billion dollars.
GIC will invest Rs 5512.5 crore in Reliance Retail, which will result in 1.22 per cent participation. TPG will invest Rs 1838.7 crore, which will result in 0.41 per cent participation. Reliance Retail's pre-money equity value is estimated at Rs 4.285 lakh crore. Note that this is the second investment in TPG's Reliance. Earlier, TPG had announced an investment of Rs 4,546.8 crore in Jio platforms.
The investment in Reliance Retail started from September 9. Ambani has so far raised over Rs 32,197.50 crore from foreign investors. Earlier, KKR, General Atlantic, Mubadla and Silver Lake Partners have announced investments in it, which will result in a total participation of 7.28 per cent in the company. The same comes to about 64 crore customers annually in more than 12,000 stores spread over Reliance Retail Limited across the country. It is India's largest and fastest growing retail business. At the same time, it is a very happy time for the Geo platform.
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