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RIL share price gains 3% on investment by KKR in retail unit

This investment values Reliance Retail at a pre-money equity value of Rs 4.21 lakh crore.

September 23, 2020 / 12:19 PM IST

Reliance Industries (RIL) share price gained 3 percent in early trade on September 23 after the announcement global investment firm KKR will invest Rs 5,550 crore in the company's retail subsidiary.

American buyout firm KKR & Co will invest Rs 5,550 crore in the company's subsidiary Reliance Retail Ventures in exchange for a 1.28 percent stake, the second deal stitched up by the Reliance Industries Ltd (RIL) unit in as many weeks.

Also read: Silver Lake to invest in Reliance Retail, buys 1.75% stake for Rs 7,500 crore

This investment values Reliance Retail at a pre-money equity value of Rs 4.21 lakh crore.