Shares of Reliance Industries gained 1 per cent on Wednesday after the corporate mentioned world non-public fairness agency Common Atlantic will make investments Rs three,675 crore to purchase zero.84 per cent stake in its retail arm.
The inventory rose 1 per cent to Rs 2,267.55 on the BSE.
On the NSE, it jumped zero.97 per cent to Rs 2,267.
Common Atlantic will make investments Rs three,675 crore to purchase a zero.84 per cent stake in Reliance Retail Ventures Ltd (RRVL), Reliance Industries mentioned in an announcement.
That is the third non-public fairness funding in Reliance Retail, following US-based non-public fairness agency Silver Lake’s Rs 7,500-crore funding for a 1.75 per cent stake and world non-public fairness agency KKR’s Rs 5,550 crore funding for a 1.28 per cent stake earlier this month.
“This marks the second funding by Common Atlantic in a subsidiary of Reliance Industries, following a Rs 6,598.38 crore funding in Jio Platforms introduced earlier this yr,” the assertion mentioned.
Reliance Retail Restricted, a subsidiary of RRVL, operates India’s largest, fastest-growing and most worthwhile retail enterprise spanning supermarkets, shopper electronics chain shops, money and carry wholesale enterprise, fast-fashion shops, and on-line grocery retailer JioMart. PTI SUM ANS ANS