Reliance Retail Ventures Ltd, which raised $1 billion from Silver Lake Partners on Wednesday, is set to draw additional investments worth $5 billion from KKR & Co., Mubadala Investment Co. and Abu Dhabi Investment Authority (ADIA), two people directly aware of the negotiations said.
California-based private equity fund Silver Lake, an investor in Reliance Industries Ltd’s Jio Platforms unit, picked up 1.75% stake in Reliance Retail Ventures for ₹7,500 crore, valuing the company at Rs 4.21 trillion or $57 billion.
“The discussions with KKR, Mubadala and ADIA are in an advanced stage, and more existing investors may follow suit as Reliance continues to talk to external investors,” said one of the two people cited above.
KKR, Mubadala and ADIA are slated to invest around $1 billion each, the people cited above said on condition of anonymity.
