wordpress blog stats
Connect with us

Hi, what are you looking for?

UPDATE: General Atlantic, Silver Lake co-investors to invest ₹5,550 crore into Reliance Retail

UPDATE (October 1): Reliance announced on Wednesday evening that Silver Lake's co-investors will be investing ₹1,875 crore (~US$255 million) into Jio Platforms, in addition to the ₹7,500 crore (US$1.01 billion) the firm had announced earlier. This brings the amount invested into Reliance Retail on Wednesday to ₹5,550 crore (~US$754 million). Earlier (September 30): After KKR and Silver Lake, General Atlantic is the latest Jio Platforms investor to acquire a stake in Reliance Industries. The US-based investment firm will invest ₹3,675 crore (~US$498 million) into Reliance Retail for a 0.84% stake in the company, the companies announced on Tuesday. In May, General Atlantic had announced an investment of ₹6,598.38 crore (~US$894 million) in Jio Platforms for a 1.34% equity stake. Reliance Retail has now raised ₹16,675 crore from big Jio Platforms investors. With this investment, Reliance Retail's equity value has gone up from ₹4.21 lakh crore to ₹4.285 lakh crore. Jio Platforms' investors making these bets for Reliance Retail in addition to Jio Platforms seems to indicate their confidence in the Mukesh Ambani-led conglomerate's ability to dominate these categories. Case in point: in 2015, General Atlantic had a total of US$500 million planned for India as a whole. Now, the firm has invested twice as much into Reliance Industries alone. Other investors are expected to follow — Mubadala, which invested ₹9093.60 crore in Jio Platforms, is rumoured to be exploring a billion dollar investment in to Reliance Retail. Reliance Retail owns JioMart, which is in beta in over 200 cities and towns,…

Please subscribe/login to read the full story.
Written By

I cover the digital content ecosystem and telecom for MediaNama.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

India's smartphone operating system BharOS has received much buzz in the media lately, but does it really merit this attention?

News

After using the Mapples app as his default navigation app for a week, Sarvesh draws a comparison between Google Maps and Mapples

News

In the case of the ‘deemed consent' provision in the draft data protection law, brevity comes at the cost of clarity and user protection

News

The regulatory ambivalence around an instrument so essential to facilitate data exchange – the CM framework – is disconcerting for several reasons.

News

The provisions around grievance redressal in the Data Protection Bill "stands to be dangerously sparse and nugatory on various counts."

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ