General Atlantic Picks Up 0.84% Stake In Reliance Retail For Rs 3,675 Cr
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Bhubaneswar, Sept. 30 -- New Delhi: Global private equity firm General Atlantic will invest Rs 3,675 crore to buy a 0.84 per cent stake in Reliance Industries Ltd's retail arm, extending the fundraising spree by billionaire Mukesh Ambani-led firm.
General Atlantic will invest in Reliance Retail Ventures Ltd (RRVL), a subsidiary of Reliance Industries Ltd, the Indian firm said in a statement.
This is the third private equity investment in Reliance Retail, following US-based private equity firm Silver Lake's Rs 7,500 crore investment for a 1.75 per cent stake and global private equity firm KKR's Rs 5,550 crore investment for a 1.28 per cent stake earlier this month.
The transaction values Reliance Retail at a pre-money equity value of Rs...
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