GIC to invest Rs 5,512.5 crore in Reliance Retail Ventures

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GIC’s investment will translate into a 1.22% equity stake in RRVL

Reliance Industries Limited and Reliance Retail Ventures Limited has announced that GIC will invest ₹5,512.5 crore into RRVL, a subsidiary of Reliance Industries.

This investment values RRVL at a pre-money equity value of ₹ 4.285 lakh crore.GIC’s investment will translate into a 1.22% equity stake in RRVL on a fully diluted basis.

Reliance Retail, through its New Commerce strategy, has started a transformational digitalization of small and unorganised merchants and is committed to expanding the network to over 20 million of these merchants. This will enable the merchants to use technology tools and an efficient supply chain infrastructure to deliver a superior value proposition to their own customers.

Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said, “It gives me great pleasure to welcome GIC to the Reliance Retail family. I am delighted that GIC, with its track record of close to four decades of successful long-term value investing across the world, is partnering with Reliance Retail in its mission to transform the Indian retail landscape. GIC’s global network and track record of long-term partnerships will be invaluable to the transformation story of Indian Retail. This investment is a strong endorsement of our strategy and India’s potential.”

https://tpc.googlesyndication.com/safeframe/1-0-37/html/container.html Lim Chow Kiat, Chief Executive Officer, GIC, said: “GIC is pleased to partner with Reliance through this new investment, which will enable the company to position Reliance Retail for the strong secular growth in India’s retail market. We believe Reliance Retail will continue to use its extensive supply chain and store networks, as well as strong logistics and data infrastructure, to add value to its customers and shareholders.”

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