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Last Updated : Oct 17, 2020 04:00 PM IST | Source: Moneycontrol.com

RIL receives Rs 5,512.5 crore from GIC for Reliance Retail, company allots shares

Earlier this month, the firm had announced the deal with the investment equity firm which valued Reliance Retail at a pre-money equity value of Rs 4.285 lakh crore.

Reliance Retail
Reliance Retail

Singapore-based investment firm GIC has furnished the Rs 5,512.5 crore subscription amount for a 1.22 percent stake in the retail arm of Reliance Industries (RIL), the Mukesh Ambani-led firm informed exchanges on October 16.

"Reliance Retail Ventures Limited, a subsidiary of the Company, today received the subscription amount of Rs 5512.50 crore from Gamnat Pte Ltd and Lathe Investment Pte. Ltd. (GIC) and allotted in the aggregate 80,798,827 equity shares to GIC," RIL said in an exchange filing.

Earlier this month, Reliance had announced the deal with the investment equity firm which valued Reliance Retail at a pre-money equity value of Rs 4.285 lakh crore.

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On October 14, RIL had received the Rs 5,550 crore subscription amount from American buyout firm KKR & Co.

The latest investments are part of a slew of deals confirmed by RIL in its retail unit, from big-name investors around the world.

Earlier, on October 1, RIL announced Abu Dhabi-based sovereign wealth fund Mubadala Investment Co would invest Rs 6,247.5 crore to buy a 1.4 percent stake in its retail arm.

On September 30, global private equity firm General Atlantic picked up a 0.84 percent stake in the company for Rs 3,675 crore.

Also, American private equity investor Silver Lake had made a second investment of Rs 1,875 crore, taking its total fund infusion in Reliance Retail to Rs 9,375 crore for a 2.13 percent stake.
Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
First Published on Oct 17, 2020 04:00 pm
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