GENERAL ATLANTIC BUY A STAKES OF RELIANCE RETAIL | CROSSED 4.28 LAKH CRORES | 2020

 GENERAL ATLANTIC BUY A STAKES OF RELIANCE RETAIL

 Diversified giant Reliance Industries has said that PE giant General Atlantic Partners has recently come forward to buy a stake in its subsidiary Reliance Retail. General Atlantic will buy a 0.84 percent stake in Reliance Retail. For this Rs. 3,675 crore is worth of contracts. With this, the retail value of Reliance in the iconic industrialist Mukesh Ambani Group has gone up by Rs. 4.28 lakh crore, according to industry sources. RIL sells 15 per cent stake in Reliance Retail for Rs. 60,000-63,000 crore.

It is learned that PE giants Silver Lake Partners, KKR, and Co have already bought shares in Reliance Retail. Silver Lake holds a 1.75 percent stake while KKR holds a 1.28 percent stake. It cost $ 1.8 billion. However, General Atlantic has also raised Rs. 6,598 crore has been invested. RIL Chairman Mukesh Ambani is happy with the recent acquisition of a stake in Reliance Retail. By continuing to be affiliated with General Atlantic, businesses as well as consumers can benefit more. Similarly, General Atlantic CEO Bill Ford said the country's retail sector would undergo positive changes with Mukesh's plans. RIL is cooperating with Digital India through Geo Platforms.

GENERAL ATLANTIC:-

General Atlantic, a foreign PE giant with a history of four decades, has been investing in technology, consumer, financial services, and healthcare. It has $ 34 billion in managed assets (AUMs) as of March 2020. Domestically invested $ 3 billion. Has invested in No broker, An Academy, Baijus, Builddesk, NSE, etc. Foreign companies that have invested include Alibaba, BiteDance, Facebook, Snapchat, and Uber.