RIL receives Rs 5,550 crore from KKR for Reliance Retail, company allots shares

American buyout firm KKR & Co has furnished the Rs 5,550-crore subscription amount for a 1.28 percent stake in the retail arm of Reliance Industries (RIL), the Mukesh Ambani-led firm informed exchanges on October 14.

"Reliance Retail Ventures Limited, a subsidiary of the company, today (October 14) received the subscription amount of Rs 5,550 crore from Alyssum Asia Holdings II Pte Ltd (KKR) and allotted 81,348,479 equity shares to KKR," RIL said in an exchange filing.

Last month, the firm had announced the deal with the private equity firm which valued Reliance Retail at a pre-money equity value of Rs 4.21 lakh crore.

This was also the second deal the two firms entered into. In May 2020, KKR said it will invest Rs 11,367 crore in Jio Platforms, the digital services platform of RIL.