RIL’s retail arm receives ₹5,550 cr from KKR for 1.28 pc stake sale

Reliance Industries Ltd (RIL) on Thursday said it has received ₹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 ₹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.

The investment valued Reliance Retail, which runs grocery stores and fashion chains, at a pre-money equity value of ₹4.21 lakh crore.