Having revived its Jio Platforms, Reliance is planning to revive its retail chain and be one of the best retail chain ever. Already they had the likes of Reliance Fresh, Reliance Fashion, Reliance Footprints and a lot more, this year things have changed a lot and the scenario is totally different so, they announced JioMart.
JioMart is the next-gen grocery and retail platform which Jio is focussing on to change the way people thought of retail shopping. It is trying to improve its platform, revoked the minimum order fee, integrating WhatsApp to JiMart, and a lot more. Recently, they have acquired Future Group for a massive amount of fee and so naturally Big Bazar and all the fashion products and outlets of them will be now Jio’s.
To transform the retail market Reliance needs funding and thanks to its partner Silver Lake, who previously invested in Jio Platforms a hefty $1.35 billion (over Rs. 10,200 crores), has now become the world’s largest tech investor SLP is investing in Reliance Retail. Silver Lake’s investment of Rs. 7500 crore will translate into a 1.75% equity stake in Reliance Retail on a fully diluted basis. This investment values Reliance Retail at a pre-money equity value of ₹ 4.21 lakh crore.
So with this, Jio Platforms and Reliance Retail account for over Rs. 9 Lakh crore of RIL valuation. SLP has a terrific track record of investing in some of the largest and successful tech companies globally such as Twitter, Airbnb, Alibaba, Dell Technologies, ANT Financials, Twitter, Alphabet’s Waymo, and Verily amongst others.
This investment marks the potential of RIL’s tech and consumer business capabilities, however, it will be interesting to see how Reliance Retail shapes up with the acquisition of Future Group and now use this investment from Silver Lake to revolutionize the retail market of India.
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