Reliance Retail has now raised $4.4 billion – with fresh investments from TPG and GIC

• Mukesh Ambani’s Reliance Retail has raised new investments from American private equity firm TPG and Singapore’s sovereign wealth fund GIC.
• While TPG has invested ₹1,837.5 crore, GIC has gone on to invest ₹5,512.5 crore.
• Reliance Retail has now sold a total of 7.27% stake in the company.

In a Jio-like blitzkrieg of investments, Reliance Retail has now raised seven investments from global investors in less than a month.

Mukesh Ambani’s Reliance Retail has raised new investments from American private equity firm TPG and Singapore’s sovereign wealth fund GIC. While TPG has invested ₹1,837.5 crore, GIC has gone on to invest ₹5,512.5 crore. Through two separate deals, Reliance Industries will sell another 1.63% stake in Reliance Retail.

This latest deal means that Reliance Retail has closed ₹32197.5 crore or $4.4 billion in investments already by giving up a total of 7.27% stake in the company.

Reliance Retail: The flurry of global investments continue

Company	Investment in Reliance Retail	Stake in Reliance Retail	Date of Investment
Silver Lake	₹9,375 crore	2.13%	September 9 (first investment) September 30 (second investment)
KKR	₹5,550 crore	1.28%	September 23
General Atlantic	₹3,675 crore	0.84%	September 30
Mubadala	₹6,247.5 crore	1.4%	October 1
TPG	₹1,837.5 crore	0.41%	October 3
GIC	₹5,512.5 crore	1.22%	October 3

Talking about the investment, Jim Coulter, Co-CEO, TPG, said in a statement, “Regulatory changes, consumer demographics and technological disruption are creating seismic shifts across the entire retail value chain in India. In the midst of this transformation, Reliance Industries has utilized technology and scale to position Reliance Retail as an incredibly strong, well-organized, and innovative leader.”

While this is TPG’s second investment (after having invested in Jio), it's GIC’s first investment in Reliance. “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,” said Mukesh Ambani, Chairman and Managing Director of Reliance Industries in a statement.

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