After Jio, KKR to invest in Reliance Retail, Rs 5,550 crore for 1.28 per cent equity stake - Hindustan Times
close_game
close_game

After Jio, KKR to invest in Reliance Retail, Rs 5,550 crore for 1.28 per cent equity stake

Hindustan Times, New Delhi | Byhindustantimes.com | Edited by Poulomi Ghosh
Sep 23, 2020 10:43 AM IST

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.

KKR has a proven track record of being a valuable partner to industry-leading franchises, says Chairman and Managing Director of Reliance Industries, Mukesh Ambani(REUTERS)
KKR has a proven track record of being a valuable partner to industry-leading franchises, says Chairman and Managing Director of Reliance Industries, Mukesh Ambani(REUTERS)

Early this year, KKR invested Rs 11,367 crore in Jio Platforms for 2.32 per cent stake, making this KKR’s second investment in a subsidiary of Reliance Industries.

Hindustan Times - your fastest source for breaking news! Read now.

“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 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”.

(With PTI inputs)

Unlock a world of Benefits with HT! From insightful newsletters to real-time news alerts and a personalized news feed – it's all here, just a click away!- Login Now!
Stay informed on Business News along with Gold Rates Today, India News and other related updates on Hindustan Times Website and APPs
SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Sunday, March 24, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On