<p>US private equity firm Silver Lake Partners will invest an additional Rs 1,875 crore in the retail arm of Reliance Industries, the Indian firm said in a statement on Wednesday.</p>.<p>"Reliance Industries Limited ('Reliance Industries') and Reliance Retail Ventures Limited ('RRVL') announced today that co-investors of Silver Lake will invest an additional Rs 1,875 crore into RRVL, a subsidiary of Reliance Industries," the statement said.</p>.<p>This brings the aggregate investment by Silver Lake and its co-investors in RRVL to Rs 9,375 crore, which will translate into a 2.13 per cent equity stake in RRVL.</p>.<p>"This latest investment values Reliance Retail at a pre-money equity value of Rs 4.285 lakh crore," the statement added.</p>.<p>Earlier on Wednesday, another US-based private equity firm General Atlantic had <a href="https://www.deccanherald.com/business/business-news/general-atlantic-to-invest-rs-3675-crore-in-reliance-retail-895074.html" target="_blank">announced investing Rs 3,675 crore for a 0.84 per cent stake</a> in Reliance Retail.</p>.<p>Commenting on the development, Reliance Industries Chairman and Managing Director Mukesh Ambani said, "Silver Lake and its co-investors are valued partners on our journey to transform Indian Retail for the benefit of all Indians. We are pleased to have their confidence and support, as well as the benefit of their leadership in global technology investing and their valued network of relationships for the Retail revolution in India."</p>.<p>"Silver Lake’s additional investment is a strong endorsement of the tremendous potential of Indian Retail and the capabilities of Reliance Retail," he added.</p>.<p>Silver Lake Co-CEO and Managing Partner Egon Durban said, "We are delighted to increase our exposure and bring more of our co-investors into this unmatched opportunity. The continued investment momentum over the last few weeks is proof of the compelling vision and business model of Reliance Retail - and underscores the tremendous potential of the transformative New Commerce initiative."</p>.<p>The transaction is subject to regulatory and other customary approvals, the statement added.</p>.<p>Reliance Retail Limited, a subsidiary of RRVL, operates India's largest, fastest-growing and most profitable retail business spanning supermarkets, consumer electronics chain stores, cash and carry wholesale business, fast-fashion outlets, and online grocery store JioMart.</p>.<p>It operates about 12,000 stores in nearly 7,000 towns, with 640 million footfalls across core categories of grocery, consumer electronics and apparel. Revenues for Reliance Retail in FY20 was Rs 1.63 lakh crore.</p>.<p>The investment will add fire to Ambani's battle for dominance in the retail market that is also being eyed by Jeff Bezos' Amazon and Walmart Inc's Flipkart.</p>
<p>US private equity firm Silver Lake Partners will invest an additional Rs 1,875 crore in the retail arm of Reliance Industries, the Indian firm said in a statement on Wednesday.</p>.<p>"Reliance Industries Limited ('Reliance Industries') and Reliance Retail Ventures Limited ('RRVL') announced today that co-investors of Silver Lake will invest an additional Rs 1,875 crore into RRVL, a subsidiary of Reliance Industries," the statement said.</p>.<p>This brings the aggregate investment by Silver Lake and its co-investors in RRVL to Rs 9,375 crore, which will translate into a 2.13 per cent equity stake in RRVL.</p>.<p>"This latest investment values Reliance Retail at a pre-money equity value of Rs 4.285 lakh crore," the statement added.</p>.<p>Earlier on Wednesday, another US-based private equity firm General Atlantic had <a href="https://www.deccanherald.com/business/business-news/general-atlantic-to-invest-rs-3675-crore-in-reliance-retail-895074.html" target="_blank">announced investing Rs 3,675 crore for a 0.84 per cent stake</a> in Reliance Retail.</p>.<p>Commenting on the development, Reliance Industries Chairman and Managing Director Mukesh Ambani said, "Silver Lake and its co-investors are valued partners on our journey to transform Indian Retail for the benefit of all Indians. We are pleased to have their confidence and support, as well as the benefit of their leadership in global technology investing and their valued network of relationships for the Retail revolution in India."</p>.<p>"Silver Lake’s additional investment is a strong endorsement of the tremendous potential of Indian Retail and the capabilities of Reliance Retail," he added.</p>.<p>Silver Lake Co-CEO and Managing Partner Egon Durban said, "We are delighted to increase our exposure and bring more of our co-investors into this unmatched opportunity. The continued investment momentum over the last few weeks is proof of the compelling vision and business model of Reliance Retail - and underscores the tremendous potential of the transformative New Commerce initiative."</p>.<p>The transaction is subject to regulatory and other customary approvals, the statement added.</p>.<p>Reliance Retail Limited, a subsidiary of RRVL, operates India's largest, fastest-growing and most profitable retail business spanning supermarkets, consumer electronics chain stores, cash and carry wholesale business, fast-fashion outlets, and online grocery store JioMart.</p>.<p>It operates about 12,000 stores in nearly 7,000 towns, with 640 million footfalls across core categories of grocery, consumer electronics and apparel. Revenues for Reliance Retail in FY20 was Rs 1.63 lakh crore.</p>.<p>The investment will add fire to Ambani's battle for dominance in the retail market that is also being eyed by Jeff Bezos' Amazon and Walmart Inc's Flipkart.</p>