Global investment firm KKR has invested Rs 5,550 crore in Reliance Industries for a 1.28 per cent stake in its retail arm. The investment values Reliance Retail, which runs grocery stores and fashion chains, at a pre-money equity value of Rs 4.21 lakh crore.
This is the second investment by KKR in Reliance Industries' units. It had previously picked up a 2.32 per cent stake in the digital arm, Jio Platforms, for Rs 11,367 crore.
Reliance Retail, a subsidiary of RRVL, operates India's largest, fastest-growing and most profitable retail business spanning supermarkets, consumer electronics chain stores, cash and carry wholesale business, fast-fashion outlets, and online grocery store JioMart. It operates almost 12,000 stores in nearly 7,000 towns. After monetising Jio Platforms -- which houses the firm's telecom arm and digital ventures, billionaire Mukesh Ambani is roping in investors in the retail business.
All the 13 investors, who had poured in a combined Rs 1.52 lakh crore in Jio Platforms, have been offered a chance to explore investing in the retail unit.