Reliance Industries Retail Unit To Sell Rs. 3,675-Crore Stake To US-Based General Atlantic

Wednesday, 30 September 2020Newsdesk

Billionaire Mukesh Ambani-led Reliance Industries said on Wednesday that US-based General Atlantic will invest Rs.3675 crore for a 0.84 per cent stake in its retail arm, Reliance Retail Ventures. The deal gives Reliance Retail a pre-money valuation of Rs. 4.29 lakh crore, Reliance Industries said in a regulatory filing before market hours.

New Delhi, 30 September 2020

As per news report of NDTV, the General Atlantic deal is the latest in a series of investments in Reliance Industries group companies, and is likely to bolster oil-to-telecom conglomerate's retail presence in the domestic market.

Source -NDTV