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Last month, the firm had announced the deal with the private equity firm which valued Reliance Retail at a pre-money equity value of Rs 4.21 lakh crore.
This marks the second investment by TPG in a subsidiary of Reliance Industries, after a Rs 4,546.8 crore investment in Jio Platforms announced earlier this year. Reliance Retail has so far raised Rs 32,197.5 crore from a clutch of global investors in exchange for a combined 7.28 percent stake.
Deals in recent weeks underline growing interest from global investors in the retail division of Mukesh Ambani-controlled Reliance Industries
Second deal by Mukesh-Ambani-controlled Reliance Industries Ltd retail unit in as many weeks will help it widen lead over competitors such as Amazon and Walmart-owned Flipkart as India’s largest retailer.
