Reliance Retail Raises INR 3675 Cr From General Atlantic To Boost Its Digital Dream

General Atlantic has committed to invest INR 3,675 Cr in Reliance Industries’ retail unit Reliance Retail in exchange for 0.84% equity stake on a fully diluted basis. Reliance Retail has been valued at a pre money equity value of INR 4.285 Lakh Cr.

Commenting on the investment, Reliance’s chairperson and managing director, Mukesh Ambani, said, “Like Reliance Retail, General Atlantic believes in the fundamental ability of digital enablement to drive progress, growth, and inclusion across India and the world.” Further, he said that Reliance Retail will leverage General Atlantic’s experience as an investor in India and expertise at the intersection of technology and consumer businesses to create a disruptive “New Commerce” platform to redefine retail in the country.

Bill Ford, CEO of General Atlantic, said, “General Atlantic is thrilled to be backing Mukesh’s New Commerce mission to drive substantial positive change in the country’s retail sector, which goes hand-in-hand with his vision to enable a Digital India through the work of Jio Platforms. General Atlantic shares Reliance Industries’ foundational belief in the power of technology to foster transformative growth, and we are excited by the immense potential of the full Reliance ecosystem.”

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