Reliance Retail gets full subscription amount of Rs 2,069.50 crore from KKR

25 Sep 2023 , 09:20 AM

Reliance Retail Ventures Ltd, Reliance Industries’ retail arm, has received the full subscription amount of Rs 2,069.50 crore from global investment company KKR and has been assigned 1.71 crore equity shares. Following the share issuance, KKR’s stake in Reliance Retail Ventures Ltd (RRVL) climbed to 1.42%, up from 1.17% previously.

Earlier this month, Reliance Industries announced KKR’s investment of Rs 2,069.50 crore in RRVL, the holding company of billionaire Mukesh Ambani’s group’s retail sector, for a 0.25% additional share valued at around Rs 8.36 lakh crore.

As of June 30, 2023, KKR has roughly USD 519 billion in assets under management.

RIL acquired Rs 8,278 crore earlier this month from Qatar Investment Authority (QIA) for a roughly 1% share in RRVL at a valuation of Rs 8.278 lakh crore (USD 100 billion).

RRVL raised Rs 47,265 crore (about USD 6.4 billion) in 2020 from global private equity investors for a 10.09% interest, valuing the company at more than Rs 4.2 lakh crore.

At the time, the firm was valued at roughly USD 57 billion and had raised money from Silver Lake, KKR, Mubadala, Abu Dhabi Investment Authority, GIC, TPG, General Atlantic, and Saudi Arabia’s Public Investment Fund.

RRVL is aggressively developing its business in India by purchasing companies and securing franchise rights to prominent multinational brands.

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