Sep 11, 2020, 09:30 EST
Bronx, United States, Sep 11, 2020, 09:30 /Comserve / -- Today, Reliance Industries Limited along with Reliance Retail Ventures Limited announced that Silver Lake is going to invest INR 7,500 crore into Reliance Retail Ventures Limited.
Mumbai, September 9, 2020: Today, Reliance Industries Limited along with Reliance Retail Ventures Limited announced that Silver Lake is going to invest INR 7,500 crore into Reliance Retail Ventures Limited. This funding values Reliance Retail Ventures Limited at a pre-money equity value of INR 4.21 lakh crore. With this investment, Silver Lake will own a 1.75% equity stake in RRVL on a fully diluted base. This is not the first investment by Silver Lakes into the Reliance business this year. During early 2020, an investment of USD 1.35 billion was made by Sliver Lakes into Reliance’s Jio Platforms.
Reliance Industries Limited aims to protect the retail sector of India with its inclusive approach serving a large customer base by empowering many farmers and small-scale enterprises. It also coordinates with a number of global and domestic companies as a preferred partner, with the view to present endless benefits to Indian society, thereby creating employment opportunities for the citizens of India.
Silver Lake is the most prominent technology investment firm that has more than USD 60 billion of assets and committed capital. It aims to develop and expand great companies by partnering with top-notch management teams. Till now, Silver Lake has invested in big firms such as Airbnb, Dell Technologies, Twitter, and many more.
Talking about the investment, Mr. Mukesh Ambani, the Chairman and Managing Director of Reliance Industries, commented that both the companies believe that technology is the key to bring transformation in the retail sector so that different small firms can collaborate to grow together. Alongside, Mr. Egon Durban, the Co-Chief Executive Officer and Managing Partner of Silver Lake believe that the Reliance team has a broad vision and is dedicated to societal interests, innovation perfection, and successful execution. These are the reasons that it has grown to be an outstanding world leader in retail and technology.
According to the standalone financial report of Reliance Retail Limited for the year ended March 31, 2020, the profit for the year stood at INR 5,539.79 crore and the revenue from operations stood at INR 1,46,724.25 crore, which is around 27% more than that of last year. These numbers show clearly that the company is growing at a speedy pace and even expects to grow at a significant rate in the upcoming 5 years.
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