General Atlantic to invest Rs 3,675 crore in Reliance Retail

This investment will value Reliance Retail at a pre-money equity value of Rs 4.285 lakh crore. Credit: Reuters

Global equity firm General Atlantic will invest Rs 3,675 crore in Reliance Industries's retail arm, Reliance Retail Ventures Limited (RRVL).

This investment will value Reliance Retail at a pre-money equity value of Rs 4.285 lakh crore.

General Atlantic’s investment will translate into a 0.84% equity stake in RRVL on a fully diluted basis, RIL said in a statement.

This marks the second investment by General Atlantic in a subsidiary of Reliance Industries, following a Rs 6,598.38 crore investment in Jio Platforms announced earlier this year.