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GIC, TPG to invest Rs 7,350 crore in Reliance Retail

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GIC, TPG to invest Rs 7,350 crore in Reliance Retail

Reliance Industries on Saturday said two investors GIC and TPG will invest a total of Rs 7,350 crore in its retail venture at a pre-money equity of Rs 4,285 crore. While GIC will invest Rs 5,512.5 crore for a 1.22 per cent equity stake on a fully diluted basis, TPG will invest Rs 1,837.50 crore for a 0.41 per cent stake at a similar valuation.

Earlier on Thursday, Abu Dhabi-based sovereign investor Mubadala Investment Company said it will invest Rs 6,247.5 crore into Reliance Retail Ventures for a 1.40 per cent stake. On Wednesday, RIL announced that co-investors of Silver Lake and General Atlantic will invest Rs 1,875 crore and Rs 3,675 crore respectively in RRVL.

US buyout firm KKR & Co also announced Rs 5,550 crore investment recently, while Silver Lake itself invested Rs 7,500 crore. Reliance Retail operates India’s largest and most profitable retail business. It serves 640 million footfalls across its 12,000 stores nationwide. The retail unit has reported a consolidated turnover of Rs 659,205 crore, cash profit of Rs 71,446 crore and net profit of Rs 39,880 crore for the year ended March 31.

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The fresh deals were announced amid an ET report that suggested that Saudi Arabia’s Public Investment Fund (PIF) and Abu Dhabi Investment Authority (ADIA) are likely to invest about $500 million or Rs 3,700 crore each to acquire a total 51 per cent in the infrastructure investment trust (InvIT) structure formed by Reliance Industries to monetise its fibre optic network assets.

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Also Read : Corona Update : India’s Covid-19 Tally Crosses 65 Lakh-mark With Spike of Over 75,000 New Cases, 940 Deaths in 24 Hours

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$92.8 million

Akshay Kumar wishes director Priyadarshan on birthday with Bhooth Bangla BTS pic: ‘Surrounded by ghosts…

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Akshay Kumar wishes director Priyadarshan on birthday with Bhooth Bangla BTS pic: ‘Surrounded by ghosts…

Akshay Kumar and Priyadarshan, the acclaimed Indian director, celebrated their 68th birthday on Instagram. Kumar, who has worked with Priyadarshan on several cult comedies of the early 2000s, wished him a happy birthday and called him a mentor. The duo is now back together for their upcoming horror-comedy, Bhooth Bangla.

The first poster of the movie has been released, and it is expected to hit theaters in 2025. Akshay Kumar wore a black fedora and a green jacket, layered over a black tee, and fans have expressed their excitement for their new movie.

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The duo’s dynamic and deep bonding have been praised by fans, who have expressed high anticipation for their new movie. The first poster of Bhooth Bangla has already been released, and the movie is expected to hit theaters in 2025.

Akshay Kumar, the versatile Bollywood actor, recently celebrated director Priyadarshan’s birthday by sharing a behind-the-scenes (BTS) photograph from their upcoming film, “Bhooth Bangla.” In the image, Akshay humorously captioned, “Surrounded by ghosts…” The photo features Akshay alongside Priyadarshan and co-actor Paresh Rawal, all dressed in traditional attire, with a black cat perched on Akshay’s shoulder, adding a whimsical touch to the scene.

Reunion After 14 Years

This collaboration marks a significant reunion between Akshay Kumar and Priyadarshan, who last worked together on the film “Bhool Bhulaiyaa” in 2007. Their partnership has been celebrated in the past for delivering successful comedies like “Hera Pheri” and “Garam Masala.” Fans have eagerly anticipated their return to the big screen together, and “Bhooth Bangla” promises to be a delightful addition to their repertoire.

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About ‘Bhooth Bangla’

“Bhooth Bangla” is a horror-comedy that blends elements of suspense with humor, a genre in which both Akshay Kumar and Priyadarshan have excelled. The film is produced by Balaji Telefilms Ltd in association with Cape of Good Films. The motion poster released earlier this year features Akshay Kumar in a suit, with a cat on his shoulder, licking milk slyly, setting the tone for the film’s intriguing and humorous premise.

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Anticipation and Fan Reactions

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The BTS photo shared by Akshay Kumar has generated excitement among fans, who are eager to see the trio back together on screen. The playful caption and the presence of the black cat suggest that “Bhooth Bangla” will offer a mix of thrills and laughs, staying true to the successful formula of their previous collaborations.

As the release date for “Bhooth Bangla be a significant highlight in the upcoming entertainment lineup. The reunion of Akshay Kumar, Priyadarshan, and Paresh Rawal, combined with the intriguing premise and the playful BTS moments, has set high expectations among audiences. Fans can look forward to a cinematic experience that promises both chills and chuckles.

For a visual glimpse into the making of “Bhooth Bangla,” you can watch the following video Akshay Kumar expressed his gratitude as they once again united for their upcoming movie Bhooth Bangla. This marks a new chapter in their long-standing collaboration since the 2000s. He shared a picture from behind the scenes of their new movie, where it seems like they are laughing about something.

Akshay wrote,”Happy Birthday, Priyan Sir! What better way to celebrate than by spending the day on a haunted set, surrounded by ghosts…both real and unpaid extras? Thank you for being a mentor, and the only person who can make chaos look like a masterpiece. May your day be filled with fewer retakes. Wishing you a fantastic year ahead!”

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