India, Sept. 9 -- Reliance Industries and Reliance Retail Ventures Limited announced that Silver Lake will invest Rs 7,500 crore into RRVL, a subsidiary of Reliance Industries. This investment values RRVL at a pre-money equity value of Rs 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 over Rs 10,200 crore 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 over 12,000 stores nationwide...