After a successful money-raising exercise done by Reliance Industries for the JIO business lately, the focus is now shifting to Retail business. The lucrative retail business with a huge population in India is attracting big global investors.
Reliance Retail with the recent acquisition of Future group has strengthened its position in the retail business. With this acquisition, Reliance Retail has ~12500 retail stores across India, and it is the only retail business in India with revenue of more than 1 lakh crores.
Last week, Silver Lake has picked a 1.8% stake in the Retail business at 4.21 Lakh Crores of valuation by pumping nearly 7000 Crores. Now the buzz is there in the market that Carlyle Group is considering an investment in retail space in India, both offline and online.
Carlyle Group is looking to invest somewhere around 7k-14K Crores to buy a stake in the Retail business of Reliance. If the deal is finalized, this would be the first investment by Carlyle Group in retail space in India. Earlier Carlyle Group has invested in SBI Life, SBI Card, DFC, India Infoline, Delhivery, and PNB Housing Finance to name a few. The other investors who are in pipeline for buying pie in the retail business of Reliance are KKR, Mubadala, and Abu Dhabi Investment.
The Carlyle Group is an American multinational private equity, alternative asset management, and financial services corporation. It specializes in corporate private equity, real assets, and private credit.
It would be interesting to see at what valuation the Carlyle will pick stake. In the case of JIO, we have seen how valuation soared from 4 lakh crores to 5 lakh crores with the entry of new investors from time to time.
This is the evolving news, for more updates on this news stay tuned to UnlistedZone.