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    RELIANCE   INE002A01018

RELIANCE INDUSTRIES LTD

(RELIANCE)
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General Atlantic to Invest Nearly $500 Million in Reliance's Retail Venture

09/29/2020 | 11:39pm EDT

By P.R. Venkat

U.S. private-equity firm General Atlantic LLC is planning to invest 36.75 billion rupees ($498.2 million) in the retail venture of Indian conglomerate Reliance Industries Ltd.

The investment will translate into a 0.84% stake in Reliance Retail Ventures Ltd., valuing the company at INR4.29 trillion pre-money, Reliance Industries said Wednesday.

Foreign companies have been investing heavily in various Reliance Industries businesses such as its retail and telecommunications operations.

Last week another private-equity firm, KKR & Co., said it would invest nearly $754.9 million in Reliance's retail unit. Silver Lake has already invested $1.02 billion.

General Atlantic's investment is its second in a Reliance Industries subsidiary following a INR65.98 billion investment in telecom unit Jio Platforms Ltd.

Earlier this year, companies like Facebook Inc., Vista Equity Partners, KKR & Co. and Saudi Arabia's sovereign wealth fund, the Public Investment Fund, poured billions of dollars into the telecommunications unit.

"Like Reliance Retail, General Atlantic believes in the fundamental ability of digital enablement to drive progress, growth, and inclusion across India and the world," Reliance Industries Chairman Mukesh Ambani said.

Reliance Retail operates India's largest and fastest-growing retail business, with close to 640 million footfalls across its more than 12,000 stores nationwide.

Morgan Stanley acted as Reliance Retail's financial adviser.

 

Write to P.R. Venkat at venkat.pr@wsj.com

 

Stocks mentioned in the article
ChangeLast1st jan.
FACEBOOK INC -1.68% 331.08 Delayed Quote.21.20%
INVESTMENT HOLDING GROUP - Q.P.S.C. -1.25% 1.029 End-of-day quote.71.79%
KKR & CO. INC. 2.41% 57.03 Delayed Quote.40.85%
MORGAN STANLEY 0.44% 91.1 Delayed Quote.32.93%
PARTNERS GROUP HOLDING AG -0.04% 1394 Delayed Quote.34.04%
RELIANCE INDUSTRIES LTD 0.28% 2219.05 Delayed Quote.11.40%
SILVER -0.80% 26.946 Delayed Quote.5.07%
UNIT CORPORATION 0.00%End-of-day quote.-94.18%
VENTURE CORPORATION LIMITED -0.94% 18.87 End-of-day quote.-2.83%
WORLD HOLDINGS CO., LTD. -1.26% 2967 End-of-day quote.51.45%
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Financials
Sales 2022 6 629 B 89 991 M 89 991 M
Net income 2022 589 B 7 995 M 7 995 M
Net cash 2022 122 B 1 651 M 1 651 M
P/E ratio 2022 25,4x
Yield 2022 0,36%
Capitalization 14 042 B 192 B 191 B
EV / Sales 2022 2,10x
EV / Sales 2023 1,77x
Nbr of Employees 236 334
Free-Float 50,4%
Chart RELIANCE INDUSTRIES LTD
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Reliance Industries Ltd Technical Analysis Chart | MarketScreener
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Technical analysis trends RELIANCE INDUSTRIES LTD
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 31
Average target price 2 265,34 INR
Last Close Price 2 211,60 INR
Spread / Highest target 93,7%
Spread / Average Target 2,43%
Spread / Lowest Target -39,0%
EPS Revisions
Managers and Directors
NameTitle
Mukesh Dhirubhai Ambani Chairman & Managing Director
Srikanth Venkatachari Joint Chief Financial Officer
Alok Agarwal Joint Chief Financial Officer
K. Sethuraman Group Secretary & Chief Compliance Officer
Savithri Parekh Joint Secretary & Compliance Officer
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