RIL bags another cheque for Reliance Retail; KKR to invest Rs 5,550 crore in Mukesh Ambani’s firm

Mukesh Ambani-led Reliance Industries announced that global investment firm KKR will invest Rs 5,550 crore into in Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries. The deal values Reliance Retail at Rs 4.21 lakh crore. KKR’s investment will translate into a 1.28 per cent equity stake in Reliance Retail Ventures Ltd on a fully diluted basis. So far this month, Mukesh Ambani’s retail business has received a total Rs 13,050 crore for an equity exchange of 3.03 per cent in Reliance Retail Ventures Ltd. However, this is the second investment by KKR in a subsidiary of Reliance Industries. Earlier this year, KKR invested Rs 11,367 crore in the RIL’s digital arm Jio Platforms.