On Wednesday, Reliance Industries Limited (RIL) said in a stock exchange filing that General Atlantic, a leading global growth equity firm, will invest Rs 3,675 crore into its subsidiary Reliance Retail Ventures Limited. The investment values Reliance Retail at a pre-money equity value of Rs 4.285 lakh crore, the statement said.
General Atlantic's investment will translate into a 0.84% equity stake in RRVL on a fully diluted basis, it added.
This marks the second investment by General Atlantic in a subsidiary of Reliance Industries,
following a Rs 6,598.38 crore investment in Jio Platforms announced earlier this year.
Earlier this month, California-based private equity fund Silver Lake, picked up 1.75% stake in RRVL for Rs 7,500 crore and global investment firm KKR & Co. invested Rs 5,550 crore into the retail chain for a 1.28% equity stake.
Shares of Reliance Industries Limited were trading higher than previous close at Rs 2,265.45 on NSE in morning trade.