Silver Lake to invest Rs 1,875 cr in Reliance Retail

New report suggests US fund Silver Lake will invest an additional Rs 1,875 in Reliance Retail Ventures. This second tranche of investment will take its total investment in the company to Rs 9,375 crore, raising its stake to 2.13 per cent in the company from earlier 1.75 per cent.

Silver Lake was the first overseas fund to announce Rs 7,500 crore investment for a receive Rs 3,675 crore in investment from General Atlantic. General Atlantic is the latest fund in a string of global investors including Silver Lake and KKR to invest in Reliance Retail in the last three weeks.

So far three global investment firms, Silver Lakee, General Atlantic and KKR have injected or announced to invest about Rs 18,600 crore in Reliance Retail valuing the company at Rs more than 4.20 lakh crore.

All the three funds had earlier this year invested in RIL other hottest property Jio Platforms. General Atlantic had earlier this year injected Rs 6,598 crore in the Reliance-owned telecom services provider.

RIL plans to raise about Rs 60,000-63,000 crore by selling a 15 per cent stake in Reliance Retail to a bevy of global investors and the Mumbai conglomerate is also planning to induct an overseas strategic investor into the company.