This time Silver Lake is investing Rs 6,500 crore in Reliance Retail.
In return, the US company will receive 1.75 percent stock in Reliance Retail Ventures Limited.
Reliance Industries Limited (Reel) announced this in a press statement on Wednesday (9th August).
In this regard, the total investment in Reliance Retail is Rs 4.21 lakh crore, said Mukesh Ambani’s company in a press statement.
Reliance’s retail business is growing a few months ago, the company’s e-commerce platform ‘Jio mart’ was launched by connecting with small and medium businesses in the country.
Since then, the world’s industrialists have become more interested in investing in Reliance’s retail business.
Mukesh Ambani’s company has recently acquired the business of Future Group the Future Big- Bazaar for Rs 24,613 crore.
Read More – The Big- Bazaar of the Future Group now in Reliance hand
This time, Silver Lake’s announcement will further increase Reliance’s retail business fleet, market experts said.
Silver Lake has invested Rs 4,548.7 crore in Reliance Jio in June alone.
Announcing his reinvestment within two and a half months.
This is the second time that the US company Silver Lake 6 has announced its investment in any Reliance business.
Earlier, the company had invested Rs 10,203 crore in Jio this time, along with Jio, Reliance Retail has also become richer Mukesh Ambani, chairman and managing director of Reliance Industries who was overjoyed at the announcement of Silver Lake’s investment in the company’s retail business.
Silver Lake Partners has previously invested in different companies in the world.
The best companies, including Twitter, Dell, ANT Financials, Twitter, Alphabet’s Waymo and Verily, etc.
After investing in Reliance’s telecom company Jio in India this year, the US company also announced a huge investment in Mukesh Ambani’s retail business.
In a statement, Mukesh Ambani, chairman of the company, said, “I am delighted to be able to further strengthen and enhance our relationship with Silver Lake by engaging millions of small businesses to provide better services to Indian customers.”
Technology is changing the way things are done in business. Silver Lake will be our invaluable partner in our goal in the Indian retail business. ‘
On the other hand, Reliance is going to import technology to make about 100 million cheap smartphones.
Mukesh Ambani’s company may announce the launch of these 4G and 5G network technology phones in India in December this year or early 2021.