Earlier today, Reliance Industries Ltd. (1) has announced that it has received 5,550 Crore INR from KKR, a global investment firm. With the latest infusions, it has picked up the 1.28% stake in the retail arm. Earlier on 23 September, Reliance had stated that KKR would invest in buying a 1.28% equity stake in its subsidiary Reliance Retail.

With the latest investment, the grocery stores and fashion chains firm is valued at 4.21 lakh crore INR, pre-money equity. Notably, it is the second investment of KKR in the unit of Reliance Industries. Previously, it had scooped 2.23% in Jio Platforms, for 11,367 crore INR.

Reliance Retail Limited, a subsidiary of Reliance Retail Ventures Limited, RRVL, is operating the largest, fastest-growing, and most profitable retail business in India. It has consumer electronics chain stores, supermarkets, cash and carries wholesale companies, Jio Mart, an online grocery store, and fast-fashion outlets. Notably, it has more than 12,000 stores in 7,000 towns across India.

Indian Business Magnet, Mukesh Ambani is Roping Investors in its Reliance Retail Businesses

While commenting on the recent development, Mukesh Ambani, the Chairman and Managing Director of the Reliance Industries, stated that KKR has an established track record of obtaining a valuable partner to industry-leading franchises. Moreover, they have made commitments in India over several years. The team is looking forward to working with the global platform of KKR and its industry knowledge and operational experience in digital services and retail businesses.

After monetizing Jio Platforms, the telecom arm, and digital ventures of Reliance Industries, the billionaire Mukesh Ambani is now roping investors in its retail business.

Reportedly, all the 13 investors who had combined invested around 1.52 lakh crore INR in Jio platforms have been offered to explore the chance to invest in the firm’s retail unit.

Other than KKR, other investors of the Jio Platforms include Silver Lake, Google, and Facebook. Other private equity firms include General Atlantics, Vista, and Mubadala, the sovereign wealth fund based in Abu Dhabi.

Meanwhile, the stock of Reliance Industries, RIL, is down by 0.50 percent or 11.50 INR at 2,276 INR today. In the previous session, the stock closed at 2,287.5 on the NSE, National Stock Exchange.

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