After Jio, KKR to invest in Reliance Retail
Early this year, KKR invested Rs 11,367 crore in Jio Platforms, making this KKR’s second investment in a subsidiary of Reliance Industries
Global investment firm KKR will invest Rs 5,550 crore into Reliance Retail ventures Limited, a subsidiary of Reliance Industries Limited, RRVL said. KKR’s investment will translate into a 1.28% equity stake in RRVL on a fully diluted basis.
Early this year, KKR put Rs 11,367 crore in Jio Platforms for a 2.32 percent stake, making this current KKR’s second interest in an auxiliary of Reliance Industries.
“This speculation esteems Reliance Retail at a pre-cash value estimation of Rs 4.21 lakh crore. This denotes the second venture by KKR in an auxiliary of Reliance Industries, following an Rs 11,367 crore interest in Jio Platforms declared recently,” Reliance Industries said in an announcement.
Dependence Retail works India’s biggest, quickest developing, and most gainful retail business serving near 640 million footfalls over its 12,000 stores nationwide. Mukesh Ambani, Chairman and Managing Director of Reliance Industries, stated: “KKR has a demonstrated history of being an important accomplice to industry-driving establishments and has been focused on India for a long time. We anticipate working with KKR’s worldwide stage, industry information, and operational mastery over our advanced administrations and retail organizations”.
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