KKR to invest Rs 5,550 crore in Reliance Retail Ventures
Published On: Wednesday, September 23, 2020 | By: Team KnowMyStock
Global investment firm KKR will invest Rs 5,500 crore in Reliance Retail for 1.28 percent equity share, Reliance Industries Limited said in a BSE filing today(23rd Sept.2020). This is the second investment by KKR in a Reliance subsidiary, following an Rs 11,367 crore investment in Jio Platforms announced earlier this year. “I am pleased to welcome KKR as an investor in Reliance Retail Ventures as we continue our onward march. KKR has a proven track record of being a valuable partner to industry-leading franchises and has been committed to India for many years," said Mukesh Ambani in a statement issued by RRVL.
Weeks after Ambani, raised about $20 billion selling stakes in his technology venture to investors including Facebook Inc. and Google, the tycoon is repeating the same with his retail business. Earlier, Silver Lake had invested Rs 7,500 cr into Reliance Retail Ventures, valuing the business at about Rs 4.2 trillion. Silver Lake also put $1.35 billion for a stake in Ambani’s Jio Platforms Ltd, while KKR invested $1.5 billion.
KKR is making its investment from its Asia private equity funds.
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