The Reliance Industries Subsidiaries owned RRVL Reliance Retail Ventures Limited is involved in fund collection to expand its operations. As a part of its fund collection, Singapore’s Sovereign Wealth Fund GIC and a global private equity firm TPG has invested INR Rs. 7,350 crore combined. Earlier, the RRVL has managed to collect $2 billion from the investments by KKR India, Mubadala, Silver Lake, and Greater Atlantic over the past few months.
GIC acquires a 1.22% stake by investing INR Rs.5,512 crore and TPG acquires a 0.41% stake through an investment of Rs.1,838 crore in the retail unit. The company said the investments have given the company a pre-money equity value more than INR Rs. 4.280 lakh crore ($58.47 billion). TPG has already invested $598 million in Reliance Jio platforms this June. The investment in RRVL is their second investment with Reliance Subsidiaries.
Reliance is giving the first opportunity to its 13 Jio investors to invest in RRVL. Earlier this August, Reliance forged a $3.38 billion deal to acquire rival Future Group’s (Bigbazaar, fbb and others) retail business. The investment leading an amalgamation is concentrating more on e-commerce ventures. E-commerce will tie the neighborhood stores for online grocery, apparel, and electronic delivery. These are currently dominated by Walmart Inc’s Flipkart and Amazon.com Inc’s Indian arm. Tata sons is also creating its own e-commerce platform ‘Super app’ and is in discussion with Walmart for investments.
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