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RIL share price gains on fresh investment by Silver Lake co-investors

The company also received subscription amount of Rs 1,894.50 crore from Intel Cap for Jio platforms and received subscription amount of Rs 730 crore from Qualcomm for Jio platforms.

October 01, 2020 / 11:21 PM IST

Reliance Industries (RIL) share price gained a percent after the company said the co-investors of private equity giant Silver Lake will invest an additional Rs 1,875 crore in its retail unit, the latest deal underscoring growing interest from global investors.

This takes the combined investment by Silver Lake and its co-investors in Reliance Retail Ventures Limited (RRVL) to Rs 9,375 crore in exchange for a 2.13 percent stake.

The company also received subscription amount of Rs 1,894.50 crore from Intel Cap for Jio platforms and received subscription amount of Rs 730 crore from Qualcomm for Jio platforms.

Earlier, Private equity firm General Atlantic said it will invest Rs 3,675 crore in Reliance Retail, in its second deal with Reliance Industries (RIL) this year.

KKR and Silver Lake Partners had earlier in September invested Rs 5,550 crore and Rs 7,500 crore respectively in RRVL. Both transactions valued RRVL at a pre-money equity value of Rs 4.21 lakh crore.

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Reliance Industries was trading at Rs 2,251.35, up Rs 17.60, or 0.79 percent. It has touched an intraday high of Rs 2,264.00 and an intraday low of Rs 2,249.

Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.



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Moneycontrol News
first published: Oct 1, 2020 09:35 am
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