More investments pouring in as Reliance is looking to transform its retail business
It’s only a day since we heard Mubadala invest ₹ 6,247.5 crores into Reliance Retail Ventures, Reliance again today has announced its another new investor in the form the global investment firm TPG.
TPG will be investing ₹ 1,837.5 crores into RRVL, a subsidiary of Reliance Industries. This investment values Reliance Retail at a pre-money equity value of ₹ 4.285 lakh crores. TPG’s investment will translate into a 0.41% equity stake in RRVL on a fully diluted basis.
Much like the other investors in the likes of Silver Lake, KKR, General Atlantic, and Mubadala, TPG is also the second investor for Reliance as all of these investors have already poured a huge sum of money into Jio Platforms, TPG previously invested ₹ 4,546.8 crores in Jio earlier.
Mr. Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said, “I am pleased to welcome TPG as valued investors in Reliance Retail Ventures mission of
growing and transforming the Indian Retail ecosystem for the benefit of all Indians. TPG has a proven track record of being a valuable partner to global technology businesses and industry leaders and we look forward to their guidance and support in our journey.”
Mr. Jim Coulter, Co-CEO, TPG, said, “Regulatory changes, consumer demographics, and technological disruption are creating seismic shifts across the entire retail value chain in India. In the midst of this transformation, Reliance Industries has utilized technology and scale to position Reliance Retail as an incredibly strong, well-organized, and innovative leader. We are excited to join with them as they seek to create a more inclusive retail industry that allows Kiranas and Indian consumers to benefit from the connectivity, efficiency, and accessibility of the Reliance Retail omnichannel platform.”
Reliance will surely try to reform its retail business in India which actually is the biggest business in India. As Jio was a major breakthrough for Mukesh Ambani, with these investments he is surely up to disrupting the retail business with new plans and changes to the old-school way implementing modern technologies.
via Jio Press Release
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