KKR to invest Rs 5550 crore in Reliance Retail Ventures to pick 1.28 pc equity stake
Home ENTERTAINMENT KKR to invest Rs 5550 crore in Reliance Retail Ventures to pick 1.28 pc equity stake
ENTERTAINMENT - September 23, 2020

KKR to invest Rs 5550 crore in Reliance Retail Ventures to pick 1.28 pc equity stake

Reliance Industries on Wednesday said global investment firm KKR will invest Rs 5,550 crore in its subsidiary Reliance Retail Ventures Ltd (RRVL) to pick 1.28 per cent equity stake.

“This investment values Reliance Retail at a pre-money equity value of Rs 4.21 lakh crore. This marks the second investment by KKR in a subsidiary of Reliance Industries, following a Rs 11,367 crore investment in Jio Platforms announced earlier this year,” Reliance Industries said in a statement.

Reliance Retail, a subsidiary of RRVL, operates India’s largest, fastest growing and most profitable retail business serving close to 640 million footfalls across its 12,000 stores nationwide. 

Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said: “KKR has a proven track record of being a valuable 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 expertise across our digital services and retail businesses”.

Reliance Retail’s new commerce platform is filling an important need for both consumers and small businesses as more Indian consumers move to shopping online and the company offers tools for kiranas to be a critical part of the value chain, said Henry Kravis, co-Founder and co-CEO of KKR.

The transaction is subject to regulatory and other customary approvals.

According to the statement, KKR has $222 billion in assets under management as of June 30, 2020. 

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