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RIL receives Rs 5,512.5 crore from GIC for Reliance Retail, company allots shares

Singapore-based investment company GIC has issued a subscription amount of 5512.5 million crores for a 1.22% stake in Reliance Industries (RIL), a company led by Mukesh Amban. announced the exchanges on 16 October. Today, the company’s subsidiary Reliance Retail Ventures Limited received a subscription amount of 5,512.50 crores from Gamnat Pte Ltd and Lathe Investment Pte. Earlier this month, Reliance announced the deal with an investment firm that estimated the pre-monetary value of Reliance Retail at 4,285 Crore lacquer.

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