KKR to inject Rs 2,070 crore in Reliance Retail; increases stake to 1.42%

12 Sep 2023 , 09:20 AM

Kohlberg Kravis Roberts, or KKR, a global private equity firm, plans to invest Rs 2,069.50 crore in Reliance Retail Ventures Ltd, increasing its holding in the retail conglomerate to 1.42% from 1.17%.

The follow-on investment by KKR values Reliance Industries’ retail arm at Rs 8.36 lakh crore (roughly $101 billion), which is more than double the valuation obtained during the 2020 fundraising.

‘This investment values RRVL at a pre-money equity value of Rs 8.361 lakh crore, placing it among the top four companies in the country by equity value,’ RIL said in a statement.

KKR invested Rs 5,550 crore in Reliance Retail in 2020 for a 1.17% stake. Three years ago, the retail company raised Rs 47,265 crore from a variety of global investors, including KKR, for a pre-money equity valuation of Rs 4.21 lakh crore.

Reliance Retail is India’s largest retail company, operating an integrated omni-channel network of over 18,500 outlets and internet commerce platforms in the grocery, consumer electronics, fashion and lifestyle, and pharmaceutical consumption baskets.

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