Mumbai, September 10: Reliance Industries touched a record high on Thursday. The stock was trading at Rs 2218, up 2.66 percent at 10:40 am. On Wednesday,  Reliance Industries announced that Silver Lake Partners picked up 1.75 per cent stake Reliance Retail Ventures (RRVL) for Rs 7,500 crore.

It marked the second billion-dollar investment by Silver Lake in a Reliance Industries subsidiary after the $1.35 billion investment in Jio Platforms announced earlier this year. Reliance Industries Reportedly in Advanced Talks With KKR For Stake Sale, After Silver Lake Picks Up 1.75% Stake in Reliance Retail.

RIL shares touched record-high on Thursday: 

There was also news which said that KKR & Co. is in advanced talks to invest at least $1 billion in the retail business of Reliance Industries, according to a Bloomberg report. This could be another big investment in the unit following Silver Lake Partners’ deal.

(The above story first appeared on LatestLY on Sep 10, 2020 11:02 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).