Reliance Retail Ventures Limited is a part of RIL. Reliance Industries Limited is an Indian multinational group of companies headquartered in Mumbai, India. They specialize in petrochemicals, retail, natural resources, energy, and telecommunications. The various projects include Jio, Jio Platforms, Network 18, Reliance Retail, and many more. It is always looking for new avenues to increase the business and get the public associate with it more. For Reliance Retail Ventures Limited, GIC offered a subscription of Rs. 2,512.50 crore. Gamnat Private Limited and Lathe Investment Private Limited is an investment giant. With the subscription, the company also became an immediate shareholder.
Reliance Retail Ventures Limited has GIC associated with it now
With the subscription plan, Reliance Industries Limited offered 80,798,827 shares to the company. The regulatory filing stated that on October 3, RRVL raised Rs. 5212.5 crore from investment firm GIC. In return, the 1.22 percent stake is rewarded to it. In addition to this amount earned, Reliance Retail Ventures Limited also received a subscription from Alyssum Asia Holdings II Private Limited. The subscription is worth Rs. 5,550 crore and the deal finalized on October 15, 2020. Hence, this shows that Reliance had big and important projects’ influx in October.
Reliance is going big in 2020
According to the latest data, the amount of FIIs/FPIs investing in Reliance Industries Limited rose from 157 to 1976 in June 2020 quarter. Besides, this is pretty self-explanatory of the trend on which the company is embarking on. Reliance Retail Ventures Limited completed the subscription and shares-allotting process under the SEBI guidelines. Bombay Stock Exchange in a post attested to that. In addition, they disclosed it under Regulation 30 of the Securities and Exchange Board of India.
The pre-equity shares issued will come in handy for the company. The Singapore based firm and the Singapore Stock Exchange have also testified to the exchange. With so many shares in the lap of GIC, it will also give it direct access to the company. Now, Reliance Retail has subscriptions from top investment firms. Also, both Alyssum Hodisnga in GIC will facilitate the working of the company to a great extent.
The company gave the equity stake of 1.28 percent and 1.22 percent respectively on a fully diluted basis. Mukesh Ambani, the company’s owner, announced the acquisition of the retail and wholesale business and warehousing business from the Future Group. So, they can move forward with its plans now that the subscription money is financed to the Reliance Retail Ventures Limited. Also, Mukesh Ambani wants to make the company the untouchable organized retail space in India. Furthermore, the mega plan has investment firms and Jio Platforms as well to act as leverage now.