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.
Note:
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
