New Delhi: Reliance Retail Ventures Ltd., the retail business of Indian billionaire Mukesh Ambani’s Reliance Industries Ltd., received 75 billion rupees ($1 billion) from Silver Lake Partners for a 1.75% equity stake, the company said in a stock exchange filing.
Reliance announced on Sept. 9 that the California-based private equity firm with stakes in technology-related companies will pay the amount as part of the deal. The firm has about $60 billion under management, including a $1.35 billion stake in Ambani’s digital services business, Jio Platforms Ltd. –Bloomberg
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