On 9th September 2020, Silver Lake, US based global technology investment firm, is set to invest Rs.7500 crore in Reliance Retail Ventures Limited(RRVL), a subsidiary of Reliance Industries Limited (RIL). This investment will provide Silver lake a 1.75% stake in RRVL. This investment will enhance the retail presence of RIL in the domestic market.
About the investment:
i.This investment marks Silver lakes 2nd investment above 1 billion USD in Reliance industries group company after the 1.35 billion USD investment in Jio Platform.
ii.This investment values RRVL at a pre money equity value of Rs.4.21 lakh crore.
Silver lakes investment is converted into a 1.75% equity stake in RRVL on a fully diluted basis.
iii.This transaction between Silver Lake and RRVL is subjected to regulatory and other customary approvals.
iv.With this investment, Jio Platforms and Reliance Retail account for around Rs 9 lakh crore of RIL valuation.
Silver lake have previously invested in leading global tech companies like Twitter, Airbnb, Alibaba, Dell Technologies, ANT Financials, Twitter, Alphabet’s Waymo and others.
Recent Related News:
On May 04, 2020, US(United States) private equity company Silver Lake partners bought a 1.15% stake in Jio Platforms Limited, a wholly-owned subsidiary of Reliance Industries Limited (RIL) for Rs 5,655.75 crore ($750 million).
About Silver Lake:
Co-CEO– Egon Durban
Managing Director– Joerg Adams
Headquarters– California, United States of America
About Reliance Industries Limited(RIL):
Founder– Dhirubhai Ambani
Chairman & MD– Mukesh Ambani