The Reliance Industries stock gained 2.6 per cent on Wednesday after its retail arm Reliance Retail Ventures (RRVL) received its first equity investment of Rs 7,500 crore from global technology investment firm, Silver Lake. The investment for a 1.75 per cent equity stake values the retail business at Rs 4.21 trillion ($57 billion).
While the deal sets a benchmark valuation for the retail business, triggers for the retail arm and for RIL will now depend on the valuations that the company receives for the next round of investments in RRVL. While the Street is positive on the outlook for ...
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