RRVL raises Rs 47,265 crore funds

Reliance Retail Ventures (RRVL) has raised Rs 47,265 crore by selling a 10.09 per cent stake valuing the company more than 4.2 lakh crore. Since September 2020, RRVL has raised billions of dollars from Silver Lake, KKR, Mubadala, Abu Dhabi Investment Authority (ADIA), GIC, TPG, General Atlantic and Saudi Arabia’s Public Investment Fund (PIF).

The company currently operates 12,000 brick-and-mortar stores and has in May launched its e-commerce venture JioMart that seeks to marry the vast Reliance Retail network of outlets on its technological platform and plans to enrol legions of kirana outlets as last mile delivery and selling agents.

In all, Reliance Industries plans to raise about Rs 60,000-63,000 crore by selling a 15 per cent stake in Reliance Retail and has offered stakes to all the firms that had earlier this year injected capital into Jio Platforms.