General Atlantic to invest Rs 3,675 cr in Reliance Retail

US-based private equity firm General Atlantic will invest Rs 3,675 crore for a 0.84 per cent stake in Reliance Retail, the Indian firm said on Wednesday.

"This investment values Reliance Retail at a pre-money equity value of Rs 4.285 lakh crore. General Atlantic's investment will translate into a 0.84 per cent equity stake in Retail Retail Ventures Ltd (RRVL) on a fully diluted basis," the company said in a statement.

This is the second investment by General Atlantic in a subsidiary of Reliance Industries, following a Rs 6,598.38 crore investment in Jio Platforms announced earlier this year.