Reliance Industries Limited and Reliance Retail Ventures Limited (RRVL) have completed the current phase of partner induction and fund raise exercise of Rs. 47,265 crore for 10.09% stake in RRVL.
RRVL has received a cumulative subscription amount of Rs. 47,265 crore from the following financial partners and allotted 69,27,81,234 equity shares to investors.
Respective equity stake in RRVL
Sl. No. - Investor Name - Investment Amount (in Rs. Cr) - % Stake
1. Silver Lake Partners - 7,500 -1.60
2. Silver Lake Partners – Co-Investors - 1,875 - 0.40
3. KKR - 5,550 - 1.19
4. Mubadala - 6,247.50 - 1.33
5. ADIA - 5,512.50 - 1.18
6. GIC - 5,512.50 - 1.18
7. TPG - 1,837.50 - 0.39
8. General Atlantic - 3,675 - 0.78
9. PIF - 9,555 - 2.04%
Total - 47,265 - 10.09
Isha Mukesh Ambani, Director, Reliance Retail Ventures Limited said, “We are proud to have such strong and reputed partners in RRVL. We feel honoured by the phenomenal interest shown by investors in our business and look forward to working with our partners to benefit from their experience and global connectivity. With our focus on New Commerce, we are committed to playing a transformational role in the Indian retail sector by empowering millions of merchants and micro, small and medium enterprises.”
Morgan Stanley acted as financial advisor to RRVL and Cyril Amarchand Mangaldas and Davis Polk & Wardwell acted as legal counsel. BofA Securities, acting as additional financial advisor, advised on the process as well as transaction structuring.
Reliance Retail Ventures Limited is a subsidiary of Reliance Industries Limited, and holding company of all the retail companies under the RIL Group. RRVL reported a consolidated turnover of Rs. 162,936 crore ($ 21.7 billion) and net profit of Rs. 5,448 crore ($726.4 million) for the year ended March 31, 2020.
