Reliance Retail is
in advanced negotiation with American private equity investor Silver Lake to sell 1.7-1.8%
stake in the entity for about Rs 7500 crore, in what could be the first such
deal in the Mukesh Ambani owned retail
giant to raise funds, two senior industry executives said.
The story was first reported by the Financial
Times late Thursday evening.
If this deal materialises, it potentially values
Reliance Retail at over Rs 4.3 lakh crore. The executives said Ambani wants to raise funds by
selling minority stakes in Reliance Retail and is in talks with multiple
investors.
When contacted, a Reliance Retail spokesperson
said the company as a policy does not comment on media speculation and rumours.
“Our company evaluates various opportunities on an ongoing basis. We have made
and will continue to make necessary disclosures in compliance with our
obligations under Securities Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulations 2015 and our agreements with the stock
exchanges,” the person said. Silver Lake declined to comment.
Earlier this year, Mukesh Ambani had raised $20
billion of investment for the digital business Jio Platforms from 13 global
investors. This includes about Rs 10,202 crore investment by Silver Lake in
this entity. The FT story said investors in Jio Platforms had been given the
opportunity to invest in Reliance Retail.
Reliance Retail is India’s largest retail chain
operating stores across formats and recently acquired the retail assets of
Future Group. Ambani in the recent company’s annual general meeting had
informed shareholders that Reliance Retail had received strong interest from
strategic and financial investors.
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
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