Reliance Inds on buyers list

Reliance Industries is in the limelight today. PE fund, Silver Lake Partners is investing Rs.7500 crore in Reliance Retail and in exchange, Silver Lake will get a 1.75% stake.

The investment values Reliance Retail at a pre-money equity value of Rs 4.21 lakh crore.

Silver Lake has also invested $1.35 billion in Jio Platforms.

There is also talks doing the rounds of another big PE fund, KKR, planning to invest $1 billion in the retail business.

The stock price rose over 1.5% to hit an intraday high at Rs.2139.10 and remains pretty much in the green at Rs.2125 levels. Market cap stands at Rs.13,46,426 crore.