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General Atlantic to invest $498.31 mln in Reliance's retail arm

09/29/2020 | 11:01pm

BENGALURU, Sept 30 (Reuters) - Reliance Industries Ltd said on Wednesday General Atlantic plans to invest 36.75 billion rupees ($498.31 million) for a 0.84% stake in its retail arm, making it the latest in a series of investments at the Indian oil-to-telecoms conglomerate.

The investment gives Reliance Retail a pre money valuation of 4.29 trillion rupees ($58.17 billion). ($1 = 73.7500 Indian rupees) (Reporting by Philip George in Bengaluru; Editing by Shounak Dasgupta)

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