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MarketScreener Homepage  >  Equities  >  NSE India Stock Exchange  >  Reliance Industries Ltd    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 EST

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 3.16% 276.92 Delayed Quote.30.78%
INVESTMENT HOLDING GROUP - Q.P.S.C. 0.17% 0.586 End-of-day quote.3.90%
KKR & CO. INC. -1.09% 38.19 Delayed Quote.32.36%
MORGAN STANLEY 5.53% 63.6 Delayed Quote.17.90%
PARTNERS GROUP HOLDING AG 1.24% 946 Delayed Quote.5.30%
PRIVATE EQUITY HOLDING AG 5.83% 54.5 Delayed Quote.-11.97%
RELIANCE INDUSTRIES LTD 0.68% 1964.05 Delayed Quote.30.07%
SILVER -1.31% 23.22 Delayed Quote.35.74%
UNIT CORPORATION 0.00%End-of-day quote.-94.18%
VENTURE CORPORATION LIMITED 0.41% 19.4 End-of-day quote.19.75%
WORLD HOLDINGS CO., LTD. 1.54% 1980 End-of-day quote.2.22%
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Financials
Sales 2021 5 246 B 70 809 M 70 809 M
Net income 2021 442 B 5 966 M 5 966 M
Net Debt 2021 956 B 12 901 M 12 901 M
P/E ratio 2021 29,6x
Yield 2021 0,34%
Capitalization 12 470 B 168 B 168 B
EV / Sales 2021 2,56x
EV / Sales 2022 1,87x
Nbr of Employees 195 618
Free-Float 50,4%
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Technical analysis trends RELIANCE INDUSTRIES LTD
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TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 2 196,44 INR
Last Close Price 1 964,05 INR
Spread / Highest target 27,3%
Spread / Average Target 11,8%
Spread / Lowest Target -32,8%
EPS Revisions
Managers
NameTitle
Mukesh Dhirubhai Ambani Chairman & Managing Director
Srikanth Venkatachari Joint Chief Financial Officer
Alok Agarwal Joint Chief Financial Officer
Nikhil Rasiklal Meswani Executive Director
Hital Rasiklal Meswani Executive Director
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