Reliance Raises Rs 1.65 Lakh Crore From Stake Sales At Retail, Digital Arms: Key Facts

On Wednesday RIL announced a $755.1 million investment from KKR & Co Inc in its retail arm, giving it a pre-money valuation of Rs 4.21 lakh crore.

Reliance Raises Rs 1.65 Lakh Crore From Stake Sales At Retail, Digital Arms: Key Facts

Reliance Industries Ltd, controlled by Asia's richest man Mukesh Ambani, has raised Rs 1.65 lakh crore ($22.43 billion) over the past few months through stake sales at its digital unit Jio Platforms and its retail arm Reliance Retail Ventures.

Here are key facts of Reliance Industries fund raising:

  • On Wednesday the company announced a $755.1 million investment from KKR & Co Inc in its retail arm, giving it a pre-money valuation of Rs 4.21 lakh crore ($57.28 billion)
  • Earlier in September, Reliance raised $1.02 billion from Silver Lake Partners for its retail arm
  • The latest investments at Reliance Retail come after the conglomerate raised Rs 1.52 lakh crore ($20.66 billion) at its digital unit by selling stakes to 13 global investors
  • Investors in Jio include Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR & Co, Mubadala, Abu Dhabi Investment Authority, TPG, L. Catterton, Public Investment Fund of Saudi Arabia, Qualcomm, Intel Corp and Alphabet Inc's Google
  • Reliance has sold nearly 33 per cent in Jio through the stake sales, including a $4.5 billion investment by Google, giving the unit an equity valuation of $59.32 billion
  • The stake sales at Jio also helped the conglomerate become net-debt free in June
  • Reliance's shares have risen 173 per cent in the last three years, as of Tuesday's close. The company's current market capitalization is at $194.78 bln
  • The conglomerate's telecom unit had 392.7 million subscribers as of May since its launch in late 2016, mainly at the expense of Vodafone Idea. Vodafone Idea lost a fifth of its wireless customers last year and had 309.9 million subscribers as of May
  • Reliance's oil and gas, refining and petrochemical businesses once underpinned its growth, but they have taken a sharp hit as oil prices collapsed. In July, the company reported a nearly 44 per cent fall in quarterly revenue as the COVID-19 pandemic destroyed demand for refined oil products
  • In addition to operating the world's biggest refining complex, Reliance also operates supermarkets and TV channels.
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