(Anjali Shreya, Intern Journalist): US private equity fund KKR will invest heavily in the retail arm of Reliance Industries. This deal was announced on Wednesday. Reliance Industries informed that KKR is going to invest Rs 5,550 crore in its retail unit Reliance Retail Ventures (RRVL).
The company said that after this investment of KKR, it will have a 1.28 percent stake in the company. Based on this investment, the valuation of Reliance Retail Ventures is being estimated at Rs 4.21 lakh crore.
Earlier this month, Silver Lake, another foreign private equity fund, bought a 1.75 percent stake for Rs 7.500 crore at the same price. After two deals in two weeks, Reliance Retail Ventures has raised Rs 13,050 crore.
This is Reliance Industries’ second major investment in Reliance units. Earlier, the fund had invested Rs 11,367 crore in the Jio platform. KKR is going to make this investment through its Asia Private Equity Fund. This deal is subject to regulatory approval.
About Post Author
