The share price of Reliance Industries gained over a percent intraday on Thursday after it announced co-investors of Silver Lake will invest an additional Rs 1,875 crore into Reliance Retail Ventures (RRVL), a subsidiary of Reliance Industries.

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The latest investment brings the aggregate investment by Silver Lake and its co-investors in RRVL to Rs 9,375 crore, which will translate into a 2.13 percent equity stake in RRVL on a fully diluted basis.

Earlier, the energy-to-digital conglomerate also said that private equity firm General Atlantic will invest Rs 3,675 crore in Reliance Retail, in its second deal with Reliance Industries (RIL) this year.

KKR and Silver Lake Partners had earlier in September invested Rs 5,550 crore and Rs 7,500 crore respectively in RRVL. Both transactions valued RRVL at a pre-money equity value of Rs 4.21 lakh crore.

Reliance Retail Venture's subsidiary Reliance Retail operates India's largest retail business serving close to 640 million footfalls across its 12,000-odd stores nationwide in 7000 cities.

The stock price of RIL hit an intraday high of Rs 2,264.00 and an intraday low of Rs 2,213.85. The stock remained positive for most of the time during today’s session but ended 0.39 percent lower at Rs 2,225.05 apiece.

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First Published:Oct 1, 2020 7:04 PM IST