We saw the third big-ticket investment in Reliance Industries' retail in a span of three weeks. PE firm General Atlantic is investing Rs 3,675 crore in Reliance Retail Ventures for a 0.84% stake. The same company had invested Rs 6,598 crore in RIL's Jio Platforms unit in May.
Reliance has raised more than $20 billion by selling stakes in Jio Platforms. Global investors including Facebook and Google bought a combined 33% in that venture this year.
So, at a time when coronavirus pandemic has left companies bruised and battered, what is it that makes Reliance arms so attractive for investors?
Business Standard's Viveat Susan Pinto explains in this podcast. Tune in to know more
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.