SILVER LAKE TO INVEST ₹ 7,500 CRORE IN RELIANCE RETAIL VENTURES AT AN EQUITY VALUE OF ₹ 4.21 LAKH CRORE - GADGET-INNOVATIONS

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SILVER LAKE TO INVEST ₹ 7,500 CRORE IN RELIANCE RETAIL VENTURES AT AN EQUITY VALUE OF ₹ 4.21 LAKH CRORE

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REAFFIRMS RELIANCE RETAIL’S INCLUSIVE AND TRANSFORMATIVE NEW COMMERCE MODEL FOR INDIA BY ONE OF THE LARGEST TECHNOLOGY INVESTORS GLOBALLY

 

 

Reliance Industries Limited (“Reliance Industries”) and Reliance Retail Ventures Limited (“RRVL”) announced today that Silver Lake will invest ₹ 7,500 crore into RRVL, a subsidiary of Reliance Industries. This investment values RRVL at a pre-money equity value of ₹ 4.21 lakh crore. Silver Lake’s investment will translate into a 1.75% equity stake in RRVL on a fully diluted basis.

 

 

This marks the second billion dollar investment by Silver Lake in a Reliance Industries subsidiary after the $1.35 billion investment in Jio Platforms announced earlier this year.

 

 

Reliance Retail Limited, a subsidiary of RRVL, operates India's largest, fastest growing and most profitable retail business serving close to 640 million footfalls across its ~12,000 stores nationwide. Reliance Retail’s vision is to galvanize the Indian retail sector through an inclusive strategy serving millions of customers by empowering millions of farmers and micro, small and medium enterprises (MSMEs) and working closely with global and domestic companies as a preferred partner, to deliver immense benefits to Indian society, while protecting and generating employment for millions of Indians.
 
 
Reliance Retail, through its New Commerce strategy, has started a transformational digitalization of small and unorganised merchants and is committed to expanding the network to over 20 million of these merchants, helping them benefit from the use of technology tools and efficient supply chain infrastructure to deliver a superior value proposition to their own customers.

 

 

With more than $60 billion in combined assets under management and committed capital and a focus on the world’s great tech and tech-enabled opportunities, Silver Lake is the global leader in large-scale technology investing. Its mission is to build and grow great companies by partnering with world-class management teams. Its other investments have included Airbnb, Alibaba, Alphabet’s Verily and Waymo units, Dell Technologies, Twitter and numerous other global technology leaders.
 

 

The transaction is subject to regulatory and other customary approvals.

 

Morgan Stanley acted as financial advisor to Reliance Retail and Cyril Amarchand Mangaldas and Davis Polk & Wardwell acted as legal counsels. Latham & Watkins and Shardul Amarchand Mangaldas & Co acted as legal counsels for Silver Lake.




Mumbai, September 9, 2020




 

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