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.
This marks the second investment by KKR in a subsidiary of Reliance Industries, following a Rs 11,367 crore investment in Jio Platforms announced earlier this year.
5 things to know about KKR-Reliance Retail deal
Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said, “I am pleased to welcome KKR as an investor in Reliance Retail Ventures as we continue our onward march to growing and transforming the Indian Retail ecosystem for the benefit of all Indians.”
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