Reliance Industries has announced that Singapore sovereign wealth fund GIC will invest ₹5,512 crore into its retail arm and also another investment firm TPG will bring in ₹1,837 crore.
Reliance Industries said in a regulatory filing that both GIC and TPG investment will translate into a 1.22% equity stake and a 0.41% equity stake in Reliance Retail.
This investment values RRVL at a pre-money equity value of ₹4.28 lakh crore.