Oil-to-telecoms conglomerate Reliance Industries stated on Saturday Singapore sovereign wealth fund GIC and international non-public fairness agency TPG Capital invested a mixed Rs. 7,350 crore in its retail unit. Reliance, managed by Asia's richest man Mukesh Ambani, has secured greater than $2 billion (roughly Rs. 14,600 crores) in investments from international traders, together with KKR, Abu Dhabi state fund Mubadala and Silver Lake Companions, in Reliance Retail Ventures over the previous few months. GIC will make investments Rs. 5,512 crore for a 1.22 p.c stake, whereas TPG Capital Administration will make investments Rs. 1,838 crore to personal a 0.41 p.c fairness stake within the retail arm, the corporate stated. The investments in Reliance Retail values the corporate at a pre-money fairness worth of Rs. 4,285 lakh crore, Reliance stated. That is TPG Capital's second funding in Reliance. In June, the agency invested $598 million (roughly Rs. 4,384 crores) in Reliance's digital unit Jio Platforms. Mumbai-headquartered Reliance has approached traders in Jio Platforms about shopping for stakes in its retail arm, Reuters had reported in September. Reliance, already India's greatest retailer with
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