General Atlantic to invest 3675 crores in Reliance Retails Ventures


Team Infinities:

General Atlantic, a global growth equity firm will invest Rs. 3675 crores in Reliance Industries Limited, NSE Symbol: RELIANCE, BSE Script Code: 500325, a leading multinational company’s subsidiary Reliance Retail Ventures Limited (RRVL), NSE Symbol: RELIANCEPP, BSE Script Code: 890147. This investment values of RRVL at a pre-money equity value of Rs. 4.285 lakh crores. General Atlantic’s will acuqire 0.84% equity stake in RRVL on a fully diluted basis. It is the second investment of General Atlantic in RRVL after investing Rs. 6598.38 crore in Jio platforms earlier this year.

Reliance Retail Limited, a subsidiary of RRVL, is one of the largest and fastest growing and profitable retail business serving approximate  640 million people across its 12000 stores nationwide in India. Its’ vision is to motivate the Indian retail market through an inclusive strategy serving of all kinds of customers including farmers and micro, small and medium enterprises (MSMEs). Working closely with global and domestic enterprises to provide huge benefits to Indian Society by creating a opportunity of employment.

On the other hand, Reliance Retail starts transformational digitalization for small and unorganized businesses. Through this digitalization over 2 crores small businesses will be able to use technology and tools and efficient infrastructure to provide superior value and products to their customers.

General Atlantic is investing in Technology, Consumer, Financial Services and Health care sectors since 40 years. This equity firm’s team is operating under a global investment platform across 14 locations. General Atlantic invests in those companies have innovation and great leadership with long term growth prospective. The company has already invested in Airbnb, Alibaba, Art Financial, Box, ByteDance, Facebook, Slack, Snapchat, Uber and other technology companies.

Chairman and Managing Director of Reliance Industries, Mr. Mukesh Ambani said: “I am pleased to extend our relationship with General Atlantic as we work towards empowering both merchants and consumers alike, and ultimately transforming Indian Retail. Like Reliance Retail, General Atlantic believes in the fundamental ability of digital enablement to drive progress, growth, and inclusion across India and the world. We look forward to leveraging General Atlantic’s extensive expertise at the intersection of technology and consumer businesses, and two decades of experience investing in India, as we create a disruptive New Commerce platform to redefine retail in the country.

Director of Reliance Retail, Ms. Isha Ambani said, “We are delighted to welcome General Atlantic as a valued partner as we continue to develop and galvanize the Indian Retail ecosystem for the benefit of all Indian consumers and merchants. General Atlantic has tremendous knowledge in the retail space developed by working with leading consumer and retail companies globally over the years and we hope to benefit from that as we progress on our journey.

Chief Executive Officer of General Atlantic, Mr. Bill Ford said: “General Atlantic is thrilled to be backing Mukesh’s New Commerce mission to drive substantial positive change in the country’s retail sector, which goes hand-in-hand with his vision to enable a Digital India through the work of Jio Platforms. General Atlantic shares Reliance Industries’ foundational belief in the power of technology to foster transformative growth, and we are excited by the immense potential of the full Reliance ecosystem. We are honored to again be partnering with the Reliance team to meaningfully accelerate India’s position in the global digital economy.

Managing Director and Head of India & Southeast Asia at General Atlantic, Mr. Sandeep Naik said: “There is a pressing need for change in the Indian Retail ecosystem. Reliance Retail’s strategy is unique – highly disruptive, and yet fully inclusive, it demonstrates a deep understanding of the diverse needs of India and Bharat, and the opportunity to provide more holistic omnichannel retail solutions to Kiranas and consumers.

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