Reliance Retail receives Rs 5,550 cr from KKR for 1.28% stake sale

Reliance Industries Ltd (RIL) on Thursday said it has received Rs 5,550 crore from global investment firm KKR, which has picked up 1.28 per cent stake in its retail arm.

Earlier, on September 23, RIL had announced that KKR will make the investment in its subsidiary Reliance Retail Ventures Ltd (RRVL) to buy 1.28 per cent equity stake.

“Reliance Retail Ventures Limited, a subsidiary of the company, today received the subscription amount of Rs 5,550 crore from Alyssum Asia Holdings II Pte. Ltd. (a unit of KKR) and allotted 81,348,479 equity shares to KKR,” Reliance Industries said in a regulatory filing.