Reliance Retail Ventures Ltd (RRVL), the holding company of offline and online retail business of Reliance Industries (RIL), targets to offload 15-20% stake to private equity players and strategic investors to raise up to Rs 80,000 cr, said two sources close to the development. They are in advanced stage of negotiations with at least ten foreign funds looking to complete the deal at Rs 4.2 lakh crore valuation appraised in the Silver Lake deal, they added.
"The quantum of fund raising may not be in the same volume as we saw in Jio Platforms. There we saw two giant strategic investors, Facebook and Google, pick up more than half of the shares that were offloaded. In the retail deal, we will see more investment partners of Jio participating," said a source in the know