Mukesh Ambani is now engaged in raising funds for his retail company after raising an investment in the renowned company Jio platforms. Reliance Retail, a company owned by Mukesh Ambani, has got its third investor. Equity firm General Atlantic will buy 0.84 per cent stake in the company for Rs 3,675 crore. Reliance Retail's pre-money equity value for the deal is estimated at Rs 4.285 lakh crore. This is the second investor in Reliance. Earlier, it had announced an investment of Rs 6,598.38 crore in Jio platforms.
Earlier, silver lake, the world's leading tech investor, had announced an investment of Rs 7500 crore in Reliance Retail, which in turn gave the company 1.75 per cent stake in Reliance Retail. The US company KKR has also purchased 1.75 per cent stake in Reliance Retail for Rs 5550 crore.
More than 12,000 stores spread across the country of Reliance Retail Limited have about 64 crore customers annually. It is the country's largest and most rapidly growing retail business. Reliance Retail also has the most profitable retail business in India. The company wants to develop a mechanism of retail global and domestic companies, small industries, retailers and farmers to provide affordable service to users and generate millions of jobs.
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