General Atlantic Completes Subscription Of Shares In Reliance Retail Ventures Ltd

Reliance Retail Ventures Ltd (RRVL), a wholly-owned subsidiary of Mukesh Ambani-controlled Reliance Industries Ltd (RIL), has received subscription amount of ₹3,675 crore from General Atlantic Singapore RL Pte. Ltd.

Following which, the company has allotted 5.4 crore shares to General Atlantic, the company said in a regulatory filing.

On September 30, global growth equity firm General Atlantic entered into an agreement to invest ₹3,675 crore into RRVL, a company controlled by Asia’s richest man Mukesh Amabani. General Atlantic’s investment will translate into a 0.84 per cent equity stake in RRVL on a fully diluted basis.

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

RRVL, which has been on a fund-raising spree, had received subscription amount of ₹1,837.50 crore from TPG Asia VII SF Pte Ltd (TPG) on October 20.

Earlier on October 17, RRVL had received the subscription amount of ₹5,512.50 crore from Gamnat Pte Ltd and Lathe Investment Pte. Ltd. (GIC).

On October 3, RRVL raised ₹5,512.5 crore from global investment firm GIC in lieu of a 1.22 per cent stake.

Before that on October 15, RRVL had received the subscription amount of ₹5,550 crore from Alyssum Asia Holdings II Pte. Ltd. (KKR).

Sandip Ginodia , CEO

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