Global investment firm KKR will invest Rs 5.550 crore in Reliance Retail Ventures Limited, a subsidiary of Reliance Industries Limited, RRVL said. KKR’s investment will result in a 1.28% equity interest in RRVL on a fully diluted basis.
Earlier this year, KKR invested Rs 11,367 crore in Jio Platforms for a 2.32% stake, making it KKR’s second investment in a Reliance Industries subsidiary.
“This investment values Reliance Retail at a pre-money equity value of Rs 4.21 lakh crore. This is KKR’s second investment in a Reliance Industries subsidiary, following an investment of Rs 11,367 crore in Jio Platforms announced earlier this year, ”Reliance Industries said in a statement.
Reliance Retail operates the largest, fastest growing and most profitable retail business in India, serving nearly 640 million visitors in its 12,000 stores across the country. Mukesh Ambani, President and CEO of Reliance Industries, said: “KKR has a proven track record of being a valued partner to industry-leading franchises and has been committed to India for many years. We look forward to working with KKR’s global platform, industry knowledge and operational experience in our digital services and retail businesses. ”
(With PTI inputs)
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