TPG to invest Rs 1837.5 crore in Reliance Retail

TIL Desk/Business/New Delhi/ Global alternative asset firm TPG will invest Rs 1,837.5 crore to buy 0.41 per cent stake in Reliance Retail Ventures Limited (RRVL), the retail arm of Reliance Industries, a statement by the Indian firm said on Saturday.

This investment values Reliance Retail at a pre-money equity value of Rs 4.285 lakh crore. TPG’s investment will translate into a 0.41 per cent equity stake in RRVL on a fully diluted basis, it said.

This is the second investment by TPG in a subsidiary of Reliance Industries, following a Rs 4,546.8 crore investment in Jio Platforms announced earlier this year.

Commenting on the development, Mukesh Ambani, Chairman and Managing Director of Reliance Industries said: 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.