Join our Waitlist for Expert Advice!

General Atlantic to Invest INR 3,675 Cr in Reliance Retail for 0.84% Stake This marks third investment in RIL's retail arm from a global investor in less than a month, after Silver Lake announced an investment of INR 7,500 crore and KKR announced INR 5,550 crore funding

By Shipra Singh

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Entrepreneur India

Reliance Industries Limited (RIL) announced on Wednesday that General Atlantic will invest INR 3,675 crore in Reliance Retail Ventures (RRVL), the retail arm of RIL. The equity firm will pick 0.84 per cent stake in RRVL on a fully diluted basis.

This fresh capital infusion will value Reliance's retail subsidiary at INR 4.285 lakh crore.

This is General Atlantic's second investment in a RIL subsidiary after INR 6,598.38 crore investments in Jio Platforms in May this year.

As for Reliance Retail, this marks third investment from a global investor in less than a month, after American global technology investment firm Silver Lake announced an investment of INR 7,500 crore and KKR announced INR 5,550 crore funding. With the latest deal, Reliance Retail has raised a total of INR 16,725 crore so far.

Also Read: Silver Lake Invests INR 7,500 Crore In Reliance Retail

RRVL operates the country's largest and most profitable retail business serving close to 640 million footfalls across its 12,000 stores nationwide through its subsidiary Reliance Retail Limited. It reported a consolidated turnover of INR 162,936 crore and net profit of INR 5,448 crore for financial year 2019-2020.

Also Read: KKR Invests INR 5,550 Crore In Reliance Retail

"I am pleased to extend our relationship with General Atlantic as we work towards empowering both merchants and consumers alike, and ultimately transforming Indian Retail. Like Reliance Retail, General Atlantic believes in the fundamental ability of digital enablement to drive progress, growth, and inclusion across India and the world. We look forward to leveraging General Atlantic's extensive expertise at the intersection of technology and consumer businesses, and two decades of experience investing in India, as we create a disruptive New Commerce platform to redefine retail in the country," said Mukesh Ambani, Chairman and Managing Director, Reliance Industries.

"There is a pressing need for change in the Indian Retail ecosystem," said Sandeep Naik, Managing Director and Head of India & Southeast Asia at General Atlantic. "Reliance Retail's strategy is unique – highly disruptive, and yet fully inclusive, it demonstrates a deep understanding of the diverse needs of India and Bharat, and the opportunity to provide more holistic omnichannel retail solutions to Kiranas and consumers."

General Atlantic is known for its investment across technology, consumer, financial services and healthcare sectors. It has backed some of the prominent tech companies around the world, including Airbnb, Alibaba, Ant Financial, Box, ByteDance, Facebook, Slack, Snapchat and Uber, among others.

"General Atlantic shares Reliance Industries' foundational belief in the power of technology to foster transformative growth, and we are excited by the immense potential of the full Reliance ecosystem," said Bill Ford, CEO, General Atlantic. "We are honored to again be partnering with the Reliance team to meaningfully accelerate India's position in the global digital economy."

Also Read: RIL Declared Net Debt Free, Much before Original Schedule

Shipra Singh

Entrepreneur Staff

Freelance Journalist

Thought Leaders

These 3 Trends Will Change What It Means to Be an Entrepreneur in 2025

Here are three entrepreneurship trends from the new Global Entrepreneurship Monitor report that are changing the landscape for the future.

Business News

Meta Fires Employee Making $400,000 Per Year Over a $25 Meal Voucher Issue

Other staff members were fired for the same reason, per a new report.

Leadership

4 Bold Leadership Moves Every Successful CEO Uses to Navigate Change

Ready to turn fear into fuel and lead with confidence? In this article, I share how leaving my corporate job without a plan led me to build a thriving business. Learn four bold strategies to embrace uncertainty and turn challenges into opportunities for growth today.

Social Media

Stop Chasing Algorithms — Here's How Creators Can Take Control of Their Content and Monetize on Their Own Terms

Social media platforms promise creators visibility, but the real challenge lies in relying on algorithms for income.

Starting a Business

Schools Fall Short on Teaching Financial Literacy — Here's 3 Ways Parents Can Raise Future Entrepreneurs

Entrepreneurship is not just for adults. Teaching kids the basics of business and finance from a young age will serve them well in life, no matter what path they pursue.