Industrialist Mukesh Ambani-owned Reliance Industries on Saturday announced that it had decided to raise Rs 7,350 crore from two investors – Singapore’s sovereign wealth fund GIC and Global alternative asset firm TPG.

The company said in an exchange filing that through two separate deals, it will sell 1.63% stake in its retail arm Reliance Retail Ventures Limited. Of this, GIC will buy 1.22% of the share by investing Rs 5,512.5 crore. TPG will invest Rs 1,837.5 crore to buy 0.41% stake.

In just three days, Reliance Industries has entered into five deals to sell stake in its retail arm. On Thursday, RIL had announced that Abu Dhabi-based sovereign wealth fund Mubadala Investment Co will invest Rs 6,247.5 crore to buy a 1.4% stake in RRVL. On Wednesday, global private equity firm General Atlantic bought 0.84% stake in the company for Rs 3,675 crore. United States private equity firm Silver Lake co-investors put in an additional Rs 1,875 crore, apart from a fund infusion it had made earlier this year.

Reliance Industries has managed to get a series of investments despite economic distress caused by the coronavirus pandemic. On September 9, Silver Lake had announced that it will invest Rs 7,500 crore in the retail arm of Reliance Industries for a 1.75% stake. This came after it picked up a 2.08% stake for $1.35 billion (Rs 9,894 crore) investment in Jio Platforms earlier this year.