MUMBAI -- India's biggest conglomerate, Reliance Industries, on Wednesday announced that its retail arm, Reliance Retail Ventures, will receive a 75 billion rupee ($1 billion) investment from U.S. tech fund Silver Lake.
The investment, which values Reliance Retail at 4.21 trillion rupees, will give Silver Lake a 1.75% stake in the company. It is the second investment by Silver Lake in a Reliance unit. The private equity fund earlier this year invested $1.35 billion in Jio Platforms, the group's telecom and digital services company.
