Reliance Retail completes Rs 47,000 cr fund raise; Mukesh Ambani firm sells 10% stake to investors

Reliance Retail today said that it has raised Rs 47,265 crore by selling 10.09 per cent stakes to investors such as Silver Lake Partners, KKR, ADIA, and others. The official release said that Reliance Industries and Reliance Retail Ventures Limited (RRVL) have completed the current phase of partner induction and fund raise exercise for RRVL. Out of the overall 10.09 per cent of stake sale, Silver Lake Partners has bought 1.6 per cent; Silver Lake Partners – Co-Investors bought 0.4 per cent; KKR took 1.19 per cent; Mubadala took 1.33 per cent; and ADIA bought 1.18 per cent. Further, GIC bought 1.18 per cent stake; and TPG took 0.39 per cent stake in RRVL.

“We are proud to have such strong and reputed partners in RRVL. We feel honoured by the phenomenal interest shown by investors in our business and look forward to working with our partners to benefit from their experience and global connectivity,” said Isha Mukesh Ambani, Director of RRVL. With a focus on new commerce, RRVL is committed to playing a transformational role in the Indian retail sector by empowering millions of merchants and micro, small and medium enterprises, she added.

Reliance Industries had recently apprised that Abu Dhabi Investment Authority and Saudi Arabia’s Public Investment Fund (PIF) have invested Rs 3,779 crore each in Jio Fibre’s network. The sovereign wealth funds from Gulf will acquire a total 51 per cent in the infrastructure investment trust (InvIT) — Digital Fibre Infrastructure Trust (DFIT), while the remaining 49 per cent will be held by various Reliance entities.

Meanwhile, Digital Fibre Infrastructure Trust plans to raise Rs 14,700 crore by issuing 1.47 billion units, priced at Rs 100 a piece to investors via a private placement. It also aims to raise Rs 25,000 crore through a loan from group companies to reduce existing debts and fund business expansion, according to the filing to the Securities and Exchange Board of India.