By P.R. Venkat 
 

Investment partners of Silver Lake will inject an additional 18.75 billion rupees ($255 million) into the retail arm of Indian conglomerate Reliance Industries Ltd., increasing the U.S. private equity firm's total investment to INR93.75 billion.

Silver Lake's stake in Reliance Retail Ventures Ltd. will rise to 2.13% from 1.75%, Reliance Industries said Thursday.

The latest investment values Reliance Retail at INR4.29 trillion, Reliance said.

The transaction is subject to regulatory and other approvals.

Reliance Retail operates India's largest retail business, with 12,000 stores nationwide.

Write to P.R. Venkat at venkat.pr@wsj.com

(END) Dow Jones Newswires

September 30, 2020 20:31 ET (00:31 GMT)