Skip to main content

General Atlantic, TPG In Talks With Reliance Retail To Invest $1 bn Each: Report

 


Global investors which made a beeline to invest in Reliance Industries Ltd’s (RIL’s) digital arm – Jio Platforms – are now vying for billionaire Mukesh Ambani-controlled retail wing of Reliance- Reliance Retail Ventures Ltd Ltd (RRVL).

After Jio investors Silver Lake and KKR wrote cheques for RRVL too, it is being reported that private equity (PE) firms General Atlantic and TPG are in talks with RRVL to invest $1 billion each in the latter, said an ET report.

That’s not all, yet another global PE firm Advent International showed interest in investing in Reliance Retail, which the report said cannot be confirmed.

The development comes close on the heels of RRVL's September 23 announcement that global investment company KKR will infuse Rs 5,550 crore in the RIL subsidiary. This investment valued Reliance Retail at a pre-money equity value of Rs 4.21 lakh crore. KKR’s investment will translate into a 1.28 per cent equity stake in RRVL on a fully diluted basis.

Before that US-based PE firm, Silver Lake announced that it would invest Rs 7,500 crore in Reliance Retail for 1.75 per cent stake in the company. This was the second billion-dollar investment by Silver Lake in a RIL subsidiary after the $1.35 billion investment in Jio Platforms announced earlier this year.

Global investors’ interest in the retail wing of RIL is piqued as it is set to emerge as a robust player of the $800-million Indian retail market, expected to touch $1.3 trillion in the next few years.

Reliance is set to emerge a dominant player in the field with its brick-and-mortar presence and JioMart digital offering. RRVL aims to use the collective strength of its 12,000 physical outlets along with JioMart and enlist millions of Kirana stores as last-mile delivery agents.

JioMart started its operations in 200 cities in May with the delivery of food and grocery. It also plans to fashion and electronic segments to take on e-commerce giants Amazon and Walmart owned Flipkart.


Sandip Ginodia , CEO

ALTIUS INVESTECH PVT LTD

We deal in over 60 unlisted companies with 15 years of experience 

For latest prices visit : www.abhisheksecurities.com/unlisted.htm / call : 09830271248 .

Email : ginodiasandip1@gmail.com

Comments

Popular posts from this blog

Reliance's JioMart is averaging half a million orders per day; WhatsApp driving growth

  JioMart , Reliance's online-to-offline commerce  platform that launched in May , has scaled up rapidly, riding on the pandemic-fuelled digital acceleration. The service, which went   live in 200 cities across India, is currently processing an average of  500,000 orders per day. " We can go even higher on peak days",  Jio Platforms CEO   Kiran Thomas  revealed at the Facebook for Fuel India 2020 event. He said, "JioMart is empowering millions of  kiranas  and small merchants through the simple and secure platform of WhatsApp, and linking them to Reliance Retail's pan-India supply chain. We expect to grow manifold in future, and are optimistic about enabling new cohorts of users and making it easier for them to shop for daily essentials."  "Customers are transacting seamlessly on JioMart and the  conversational nature of the service  enabled by WhatsApp has made people adapt to it intuitively," he added. Reliance also stated that it will continue t

Stock broker SMC Global files for IPO

F inancial services company SMC Global Securities has filed draft red herring prospectus with SEBI for public issue of 1,58,67,380 equity shares of face value of Rs 2 each. The issue comprises a fresh issue of 79,33,690 equity shares by the company and an offer for sale of 79,33,690 shares by Millennium India Acquisition Company Inc. As of September 30, 2012, "We service our broking clients through a network of 43 branches and 2,521 registered sub-brokers and authorized persons spread in more than 500 cities and towns. We have also established an office in Dubai for brokerage and trading activities in that region," the company said. SMC has reported a loss of Rs 0.42 crore and total revenues of Rs 292.24 crore in the year ended March 31, 2012. "The proceeds of the fresh issue shall be utilised for margin maintenance with stock exchanges; part repayment of term loan; investments into subsidiary, SMC Comtrade; and general corporate purposes," according to p

Zomato, Swiggy score 1/10 on working conditions for their workers – ET Retail

Some of India's biggest startups have ranked near the bottom when it comes to  working conditions  for their gig  workers , according to a report released Wednesday. While  Swiggy ,  Zomato  and Uber India scored 1/10, Urban Company and Flipkart’s logistics arm EKart scored the highest 8/10 and 7/10, respectively, ‘ Fairwork India Ratings  2020: Labour Standards in the Platform Economy’  showed . The report assessed the companies on five principles: fair play, fair conditions, fair contracts, fair management, and fair representation. Deepinder Goyal, chief executive officer of Zomato Media Pvt. Ltd., acknowledged the ratings on Twitter. “Zomato ranked at the bottom of 2020 Fairwork India scores. We knew we had things to work on, but we didn’t know that there is so much room for improvement.” The company takes full responsibility and “will leave no stone unturned to perform better in the rankings next year,” he added. Zomato received a 4/10 in last year's report. According t