KKR to invest Rs 5,550 crore in Reliance Retail for 1.28% stake

Global investment firm KKR & co. will invest Rs 5,550 crore in Reliance Industries’s retail arm for a 1.28% stake, further boosting billionaire Mukesh Ambani’s plans to garner funds for the consumer company.

This investment values Reliance Retail at a pre-money equity value of Rs 4.21 lakh crore. KKR’s investment will translate into a 1.28% equity stake in Reliance Retail Ventures Limited (RRVL) on a fully-diluted basis.

This is the second investment by KKR in a Reliance subsidiary, following a Rs 11,367 crore investment in Jio Platforms earlier this year. KKR’s investment in May was part of a funding round that saw the conglomerate raise over $20 billion from investors including tech giants Facebook and Google.

Reliance had earlier raised Rs 7,500 crore from US private equity firm Silver Lake Partners for its retail business for a 1.75 per cent stake.