Reliance Retail completes Rs 47,265 cr fundraise from 10.09% stake sale

Billionaire Mukesh Ambani’s Reliance Industries on Thursday said it has completed the sale of about 10 per cent stake in its retail unit to a clutch of foreign investors for Rs 47,265 crore. Since September 25, the company has sold 10.09 per cent stake in Reliance Retail Ventures Ltd (RRVL) to private equity firms Silver Lake Partners, KKR, GIC, TPG and General Atlantic, as well as sovereign wealth funds Mubadala, ADIA and PIF.

“RRVL has received cumulative subscription amount of Rs 47,265 crore from the following financial partners and allotted 69.27 crore equity shares to them,” the company said in a statement. Silver Lake Partners bought 2 per cent stake in two tranches for Rs 9,375 crore while KKR invested Rs 5,550 crore for 1.19 per cent interest.