Private equity firm General Atlantic to invest Rs 3,675 crore in Mukesh Ambani's Reliance Retail
General Atlantic will invest Rs 3,675 crore in Reliance Retail Ventures, which will value Mukesh Ambani's retail arm at Rs 4.285 lakh crore
This is General Atlantic's second investment in a subsidiary of Reliance Industries, following a Rs 6,598.38 crore investment in Jio Platforms announced earlier this year.
Reliance Retail is on a fundraising spree and has secured around $1.8 billion in the past few weeks from KKR & Co and Silver Lake Partners.
Brookfield Asset Management files documents with SEBI for India’s third REIT IPO
Canadian investment giant Brookfield Asset Management has filed a draft offer document with market regulator SEBI to monetise it’s Indian rental assets via a REIT or real estate investment trust lPO.
The plan is to raise between Rs 4,000 to Rs 4,500 crore and launch the IPO by 2020 end or early 2021.
This is the third REIT offering in India after the Embassy Office Parks REIT backed by Blackstone and the Mindspace REIT also backed by Blackstone and developer K Raheja Corp.
India’s super-rich see wealth grow 20% during Covid
India’s super-rich have grown their wealth by 20% during Covid. This is twice as fast as the growth in the net market capitalisation of all listed companies.
Also, the number of people having more than Rs 1,000 crore in the IIFL Wealth Hurun Rich List has increased by 94 in 2020 to 828.
