Silver Lake co-investors invests an additional ₹18.75 billion in Reliance Retail | Tech News

Silver Lake co-investors invests an additional 18.75 billion in Reliance Retail

This brings the aggregate investment by Silver Lake and its co-investors in RRVL to 9,375 crore, which will translate into a 2.13% equity stake in RRVL on a fully diluted basis.

By: HT TECH
| Updated on: Aug 20 2022, 23:09 IST
Silver Lake, whose portfolio includes stakes in Airbnb and Twitter Inc, has previously invested in Reliance's digital business.
Silver Lake, whose portfolio includes stakes in Airbnb and Twitter Inc, has previously invested in Reliance's digital business. (REUTERS)

US private equity firm Silver Lake (SLP) co-investors will be investing additional 18.75 billion into Reliance Retail Ventures, the retail arm of Reliance Industries, the firm said in a regulatory filing late on Wednesday.

Silver Lake, whose portfolio includes stakes in Airbnb and Twitter Inc, has previously invested in Reliance's digital business.

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Silver Lake's co-investors' current investment ( 1,875 crore) values Reliance Retail Ventures Limited (RRVL) at a pre-money equity value of 4.285 lakh crore - about 7,000 crore higher than the valuation of 4.21 Lakh crore for SLP's earlier investment in Reliance Retail.

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Also Read: Reliance Retail arm receives 7,500 cr from Silver Lake for 1.75% stake sale

This brings the aggregate investment by Silver Lake and its co-investors in RRVL to 9,375 crore, which will translate into a 2.13% equity stake in RRVL on a fully diluted basis.

And this also marks the third large investment from the house of Silver Lake and its associates in a Reliance Industries subsidiary after putting 7,500 crore in RRVL earlier this month and $1.35 billion (over 10,200 crore) investment in Jio. 

Also Read: Silver Lake invests 7,500 crore in Reliance Retail Ventures, acquires 1.75% stake

Morgan Stanley acted as financial advisor to Reliance Retail and Cyril Amarchand Mangaldas and Davis Polk & Wardwell acted as legal counsels. Latham & Watkins and Shardul Amarchand Mangaldas & Co acted as legal counsels for Silver Lake.

(With agency inputs)

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First Published Date: 30 Sep, 23:16 IST
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