RIL gains 1% as General Atlantic to invest Rs 3,675 cr in Reliance Retail

General Atlantic's investment will translate into a 0.84 per cent equity stake in RRVL. The deal values Reliance Retail at a pre-money equity value of Rs 4.285 trillion

Shares of Reliance Industries (RIL) advanced 1 per cent ato Rs 2,268 on the BSE in the early morning trade on Wednesday after General Atlantic, a leading global growth equity firm, said it will invest Rs 3,675 crore in Reliance Retail Ventures Limited (RRVL) for 0.84 per cent equity stake.

The stock of RIL was trading higher for the fourth straight day and has gained 4 per cent during the period. It hit a record high of Rs 2,368.80 on September 16, 2020.

"General Atlantic's investment will translate into a 0.84 per cent equity stake in RRVL. The deal values Reliance Retail