RIL Top Gainer on Sensex, Share Price Rises 3% After Investment by KKR in Reliance Retail

“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,” Reliance Industries said in a statement.

Reliance Industries is lining up investors in its retail unit after the conglomerate raised just over $20 billion this year from global investors, including Facebook Inc, by selling stakes in its Jio Platforms digital business.

Reliance Retail, a subsidiary of RRVL, operates India’s largest, fastest growing and most profitable retail business serving close to 640 million footfalls across its 12,000 stores nationwide.

Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said: “KKR has a proven track record of being a valuable partner to industry-leading franchises and has been committed to India for many years. We look forward to working with KKR’s global platform, industry knowledge and operational expertise across our digital services and retail businesses”.