Silver Lake Invests Rs. 7,500 Crore in Reliance Retail

US-based individual equity firm Argent Lake volition invest Rs. 7,500 crore in Reliance Retail Ventures Express (RRVL). With this investment, Silver Lake gets a i.75 percent equity pale in Reliance Retail on a fully diluted basis.

The investment values Reliance Retail at a pre-money equity value of Rs. four.21 lakh crore. The evolution comes merely a few weeks later Reliance Retail's interest in Future Group. Reliance Retail acquired Future Group's retail, wholesale, logistics, and warehousing business organization for a whopping Rs. 24,713 crore.

The press release notes that the transaction is subject field to regulatory and other customary approvals. Morgan Stanley acted as fiscal advisor and Cyril Amarchand Mangaldas and Davis Polk & Wardwell acted as legal counsels to Reliance Retail. Meanwhile, Latham & Watkins and Shardul Amarchand Mangaldas & Co acted every bit legal counsels for Argent Lake.

"I am delighted to extend our human relationship with Silvery Lake to our transformational efforts of building an inclusive partnership with millions of small merchants while providing value to Indian consumers across the country in the Indian retail sector," said Reliance Industries Chairman Mukesh Ambani.

"Nosotros believe technology volition be key to bringing the much-needed transformation in this sector and then that various constituents of the retail ecosystem can interact to build inclusive growth platforms. Silverish Lake will be an invaluable partner in implementing our vision for Indian Retail", he added.

Silvery lake has more than $60 billion in combined avails beyond leading tech companies including Airbnb, Alibaba, Alphabet's Verily and Waymo, Dell Technologies, and Twitter. However, this is non the starting time Argent Lake investment in a Reliance Industries subsidiary. In May, Silver Lake invested Rs. 5,655.75 crore in Jio Platforms Limited, followed past an additional Rs. 4,546.lxxx crore in June.