NEW DELHI: Global investment firm KKR will invest Rs 2,069.50 crore in Reliance Retail Ventures Limited (RRVL) and pick an additional 0.25% stake in the company, a media statement by Reliance Retail said on Monday.
This investment values RRVL at a pre-money equity value of Rs 8.4 lakh crore, which makes it among the top four companies by equity value in the country. KKR had earlier invested Rs 5,550 crore in 2020 in Reliance Retail. After the latest round of investment, KKR’s total stake in Reliance Retail will go up to 1.42% on a fully diluted basis.
In 2020, the RRVL had raised Rs 47,265 crore from a number of investors at a pre-money equity value of Rs 4.21 lakh crore. Recently, Qatar Investment Authority picked up a 1% stake in the retail arm of Reliance Industries (RIL) at Rs 8,300 crore.
As per a statement by RRVL, KKR’s follow-on investment in it furthers its relationship with RIL. In addition to its investment in RRVL, KKR is also an investor in Jio Platforms Limited, a leading digital services platform and a subsidiary of Reliance Industries Limited,” said the statement.
“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. 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 the transformation of the Indian retail sector,” Isha Ambani, director, of RRVL, said in a statement.
RRVL, through its subsidiaries and associates, operates India’s largest, fastest-growing, and most profitable retail business serving 267 million loyal customers.