EconomyEditor's PickNewsGeneral Atlantic to invest $498.31 million in Reliance’s retail arm

1 year ago113 min
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imageStock Markets9 minutes ago (Sep 29, 2020 11:10PM ET)

(C) Reuters. FILE PHOTO: A bird flies past a Reliance Industries sign in Ahmedabad, India

BENGALURU (Reuters) – Reliance Industries Ltd (NS:RELI) said on Wednesday General Atlantic plans to invest 36.75 billion rupees ($498.31 million) for a 0.84% stake in its retail arm, making it the latest in a series of investments at the Indian oil-to-telecoms conglomerate.

The investment gives Reliance Retail a pre money valuation of 4.29 trillion rupees ($58.17 billion).

General Atlantic to invest $498.31 million in Reliance’s retail arm

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