Reliance Retail completes Rs 47,265 cr fund raise for 10% stake sale

Experts say a strategic investor may be inducted later as Reliance Retail prepares to fight Amazon, Walmart-Flipkart and DMart among others

Reliance Retail Ventures Ltd said on Thursday that it had completed its divestment programme, raising Rs 47,265 crore from investors by selling a 10.09 per cent stake.

“This is the largest fund raise exercise in the sector completed within two months,” Reliance Industries (RIL), the parent of Reliance Retail said. “All the investments have been completed, with receipt of funds and issue of shares," the company added.

Since September, Reliance Retail has raised money from Silver Lake, KKR, Mubadala, Abu Dhabi Investment Authority (ADIA), GIC, TPG, General Atlantic and Saudi Arabia’s Public Investment Fund (PIF) in a divestment programme that