Reliance Retail Bags $1 Bn From GIC, TPG Capital To Revamp Retail Ecosystem

Reliance Retail Bags $1 Bn From GIC, TPG Capital To Revamp Retail Ecosystem

SUMMARY

GIC has invested INR 5,512.5 Cr for 1.22% stake, while TPG has invested INR 1,837.5 Cr for 0.41% stake

This week, it also raised funding from General Atlantic, Silver Lake co-investors and Mubadala

The company has been valued at a pre-money equity value of INR 4.285 Lakh Cr for all these deals

Reliance Industries-owned retail unit Reliance Retail, on Saturday (October 3), announced that it has raised nearly INR 7,349K Cr (nearly $1 Bn) from Global investors GIC and TGP to accelerate the growth of its digital retail empire.

GIC has invested INR 5,512.5 Cr into Reliance Retail for 1.22% stake at a pre-money equity value of INR 4.285 Lakh Cr. Meanwhile, TPG has invested INR 1,837.5 Cr for 0.41% stake at the same valuation. This is TPG’s second investment in Reliance Industries, prior to this it had invested INR 4.546.8 Cr in Jio Platform.

Incubated in a family office, TPG Capital was founded in 1992 by James Coulter, David Bonderman and William S. Price III as Texas Pacific Group. It has more than $70 Bn under management with nearly 145 startups in its portfolio including Uber, Airbnb and SurveyMonkey. In India, it has invested in Livspace, Nykaa, Lenskart, BookMyShow, and Dream11.

GIC was established in 1981 to manage Singapore’s forign reserves. GIC has made 141 investments in over 40 countries. It has invested in O2O deals marketplace Little, ChargePoint, General Fusion and more.

Commenting on the deal, TPG’s co-CEO Jim Coulter said, “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 utilised technology and scale to position Reliance Retail as an incredibly strong, well-organized, and innovative leader.”

Meanwhile, Reliance Industries’ chairperson and MD, Mukesh Ambani said that the investment will help Reliance Retail Venture to grow and transform Indian retail ecosystem for the benefits of all Indians.

Earlier this week, the company had raised funding from General Atlantic, Silver Lake co-investors and Mubadala. Silver Lake co-investors invested INR 1,875 Cr increasing its stake to 2.13% in the company. The private equity firm had flagged off Reliance Retails’ funding spree with INR 7,500 Cr for a 1.75% back in September.

Abu Dhabi’s sovereign fund Mubadala Investment Company had invested INR 6,247 Cr for 1.4% stake. Meanwhile, General Atlantic has committed to invest INR 3,675 Cr in Reliance Retail in exchange for 0.84% equity stake on a fully diluted basis. The company has been valued at a pre-money equity value of INR 4.285 Lakh Cr for all these deals.

You have reached your limit of free stories
Become An Inc42 Plus Member

Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.

2 YEAR PLAN
₹19999
₹7999
₹333/Month
Unlock 60% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹4999
₹416/Month
Unlock 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

Reliance Retail Bags $1 Bn From GIC, TPG Capital To Revamp Retail Ecosystem-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

Reliance Retail Bags $1 Bn From GIC, TPG Capital To Revamp Retail Ecosystem-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

Reliance Retail Bags $1 Bn From GIC, TPG Capital To Revamp Retail Ecosystem-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

Reliance Retail Bags $1 Bn From GIC, TPG Capital To Revamp Retail Ecosystem-Inc42 Media
Reliance Retail Bags $1 Bn From GIC, TPG Capital To Revamp Retail Ecosystem-Inc42 Media
You’re in Good company