KKR to invest around $250m in Reliance Retail Venture
The investment company will now hold a 1.42% stake in RRVL.
Global Investment firm KKR, through an affiliate, will be investing about $249.6m (INR20.7b) in Reliance Retail Venture (RRVL) which will increase its equity stake in the company by 0.25% to 1.42% on a fully diluted basis.
In a statement, RRVL said the investment is a follow-on from its investment of around $669.3m (INR55.5b) in 2020.
“We are pleased to receive continued support from KKR as an investor in Reliance Retail Ventures Limited. We highly value our deepening partnership with KKR, and their latest investment in RRVL after their previous investment further reinforces their strong belief in RRVL’s vision and capabilities,” said RRLV Director Isha Mukesh Ambani.
“We look forward to continued engagement with KKR and to benefit from their global platform, industry knowledge and operational expertise, in our journey towards driving transformation of the Indian retail sector,” she added.
RRVL said the funding brings its investment values at a pre-money equity value of $100.8b (INR8.4t), making it amongst the top four firms in the country by equity value.
$1 = INR82.92