The global leader in large-scale technology investment, Silver Lake, will invest $1 billion (₹ 7,500 crores) into Reliance Retail, India’s largest retail chain and a subsidiary of Reliance Industries. The deal values Reliance Retail at $57 billion ( ₹ 4.21 lakh crore) pre-money. With this Silver Lake’s investment will translate into a 1.75% equity stake in Reliance Retail on a fully diluted basis.
This is the second billion-dollar investment by Silver Lake in Reliance. Earlier this year, Silver Lake had made an investment of $1.35 billion in Jio Platforms. This investment by Silver Lake in Reliance Retail will likely be followed by several more high-profile investors in the coming weeks.
Reliance Retail has over 12,000 stores across the country and has recently acquired several parts of Future Group (India’s second-largest retail chain).