GIC, TPG to invest about $1 billion in retail arm, says Reliance Industries

Topics GIC | TPG | Reliance Industries

Indian oil-to-telecoms conglomerate Reliance Industries Ltd said on Saturday Singapore sovereign wealth fund GIC and global private equity firm TPG Capital invested a combined Rs 7,350 crore (about $1 billion) in its retail unit.

  Reliance, controlled by Asia's richest man Mukesh Ambani, has secured more than $2 billion in investments from global investors, including KKR & Co, Abu Dhabi state fund Mubadala and Silver Lake Partners, in Reliance Retail Ventures Ltd over the past few months.   GIC will invest Rs 5,512.....

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