Big News In the Market Silver Lake Invest In JioMart Reliance Retail.

Silver lake invest in reliance retail
Impressed by the success of Geomart, Silver Lake will invest Rs 7500 crore in Reliance Retail.

Amid the deepening of the Corona crisis in the country, Silver Lake is going to invest Rs 7,500 crore for 1.75 percent equity in Reliance Retail Ventures Limited (RRVL). Reliance Industries Limited (RIL) has informed about this on Wednesday. The pre-money equity value of Reliance Retail has been estimated at Rs 4.21 lakh crore due to the transaction. Earlier, Silver Lake, one of the largest investors in the technology sector in the world, also made a big investment in Jio platforms.

According to the information received, Silver Lake has recently invested more than $ 1.35 billion, or about Rs 10,200 crore in Jio platforms. The total valuation of Reliance Retail and Jio platforms has been more than Rs 9 lakh crore. Market experts say that Silver Lake's investment in Reliance Retail is a clear indication that Reliance Retail has emerged as a major player in the Indian retail sector. Recently, Reliance Retail bought Future Group.

Currently, Reliance Retail has more than 12 thousand stores in many cities of the country. In which footfall of about 64 crores is being told every year. Mukesh Ambani, chairman of Reliance Industries, has set a target of connecting about 3 crore grocery stores and 12 crore farmers across the country through Reliance Retail's network. In the same sequence, the company has recently started the online store 'Geomart' in the grocery sector. Geomart is getting about 4 lakh orders every day.

Mukesh Ambani, Chairman and Managing Director of Reliance Industries, expressed happiness over the deal and said that Silver Lake is linked to our transformative idea of ​​partnering with millions of small traders through their investments. It is our endeavor to provide the right service to Indian consumers in the Indian retail sector. We believe that technology will prove to be important in bringing about necessary changes in the retail sector and all the components related to the retail ecosystem will be able to build a better development platform. Silver Lake will be an important partner in furthering our vision in the Indian retail sector. "

At the same time, Aegon Durban, co-CEO and managing partner of Silver Lake, said that Mukesh Ambani and the team of Reliance have gained leadership in the retail and technology sector through their efforts. Despite the Korana crisis, the success of Geomart in a very short time is commendable. "

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