General Atlantic Can't Have Enough Of India's Reliance: To Invest Another $500M
General Atlantic Can't Have Enough Of India's Reliance: To Invest Another $500M
Equity firm General Atlantic on Tuesday disclosed it would invest close to $500 million (INR 36.75 billion) in Reliance Industries Ltd's retail venture.
What Happened: On a fully diluted basis, General Atlantic’s investment will represent around 0.84% stake in Reliance Retail. The current $500 million funding is General Atlantic’s second investment in the Indian company. In May, the growth equity firm invested $873 million for a 1.3% stake in Reliance’s telecom subsidiary Jio Platform.
The Indian billionaire Mukesh Ambani-owned Reliance is shifting focus towards technology and retail consumer business – both online and offline, from the Oil-refining business, according to Bloomberg. Reliance Retail operates around 12,000 stores across 7,000 towns in India.
Last week, investment management company KKR & Co Inc (NYSE:KKR) bought a 1.28% stake in Reliance Retail for $754 million.
Why Does It Matter: U.S. investors seem to be in a rush to pour their money into Reliance this year. The Indian giant's Jio has raised above $20 billion this year from tech giants Alphabet Inc (NASDAQ:GOOGL) (NASDAQ:GOOG), Facebook Inc (NASDAQ:FB), Amazon Inc (NASDAQ:AMZN), and Intel Corp (NASDAQ:INTC) — among other companies.
Earlier this month, there were reports that Ambani had plans to offload approximately 40% shares in Reliance Retail. Amazon.com Inc. (NASDAQ:AMZN) was reported to be eyeing a $20 billion stake in the retail venture as well, while Walmart Inc. (NYSE:WMT) looks to fund rival Tata Group's retail app with a funding of up to $25 billion, according to local business daily Mint.
Earlier this month, the private equity firm Silver Lake also invested $1 billion in Reliance Retail, following its $748.3 million Jio investment in May.
Equity firm General Atlantic on Tuesday disclosed it would invest close to $500 million (INR 36.75 billion) in Reliance Industries Ltd's retail venture.
股權公司大西洋將軍 在星期二披露它將投資接近 5 億印度盧比（36.75 億印度盧比） 信誠實業有限公司零售企業。
What Happened: On a fully diluted basis, General Atlantic’s investment will represent around 0.84% stake in Reliance Retail. The current $500 million funding is General Atlantic’s second investment in the Indian company. In May, the growth equity firm invested $873 million for a 1.3% stake in Reliance’s telecom subsidiary Jio Platform.
發生了什麼事： 在完全稀釋的基礎上，大西洋將軍的投資將佔信賴零售約 0.84％ 的股份。目前的 5 億美元資金是大西洋將軍對印度公司的第二次投資。5 月，這家成長型股票公司投資了 8.73 億美元，用於信賴的電信子公司 Jio Platform 的 1.3% 股份。
The Indian billionaire Mukesh Ambani-owned Reliance is shifting focus towards technology and retail consumer business – both online and offline, from the Oil-refining business, according to Bloomberg. Reliance Retail operates around 12,000 stores across 7,000 towns in India.
印度億萬富翁穆克什·安巴尼擁有的 Reliance 正在將重點轉移到技術和零售消費者業務-線上和線下，從煉油業務，根據 彭博。信賴零售業在印度 7,000 個城鎮經營約 12,000 家商店。
Last week, investment management company KKR & Co Inc (NYSE:KKR) bought a 1.28% stake in Reliance Retail for $754 million.
Why Does It Matter: U.S. investors seem to be in a rush to pour their money into Reliance this year. The Indian giant's Jio has raised above $20 billion this year from tech giants Alphabet Inc (NASDAQ:GOOGL) (NASDAQ:GOOG), Facebook Inc (NASDAQ:FB), Amazon Inc (NASDAQ:AMZN), and Intel Corp (NASDAQ:INTC) — among other companies.
Earlier this month, there were reports that Ambani had plans to offload approximately 40% shares in Reliance Retail. Amazon.com Inc. (NASDAQ:AMZN) was reported to be eyeing a $20 billion stake in the retail venture as well, while Walmart Inc. (NYSE:WMT) looks to fund rival Tata Group's retail app with a funding of up to $25 billion, according to local business daily Mint.
Earlier this month, the private equity firm Silver Lake also invested $1 billion in Reliance Retail, following its $748.3 million Jio investment in May.
本月初，私募股權公司銀湖也 投資 繼 5 月份其 7,48.3 億美元 Jio 投資之後，在信賴零售中獲得了 10 億美元。
譯文內容由第三人軟體翻譯。
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