Business Today
Loading...

Mukesh Ambani's Reliance Retail receives Rs 5,550 cr from KKR

KKR had announced it would invest Rs 5,550 crore in RIL subsidiary Reliance Retail Ventures on September 23; investment valued Reliance Retail at a pre-money valuation of Rs 4.21 lakh crore

twitter-logoBusinessToday.In | October 15, 2020 | Updated 12:21 IST
Mukesh Ambani's Reliance Retail receives Rs 5,550 cr from KKR
The KKR's investment translates into a 1.28 per cent equity stake in Reliance Retail on a fully diluted basis

Reliance Retail Ventures Limited, a subsidiary of the company, has received the subscription amount of Rs 5,550 crore from Alyssum Asia Holdings II Pte Ltd, also known as KKR, and allotted 81,348,479 equity shares to the company, RIL informed the stock exchanges on Thursday.

KKR had announced that it would invest Rs 5,550 crore in RIL subsidiary Reliance Retail Ventures Ltd (RRVL) on September 23. The investment valued Reliance Retail at a pre-money equity valuation of Rs 4.21 lakh crore.

Overall, the KKR's investment translates into a 1.28 per cent equity stake in Reliance Retail on a fully diluted basis.

This is KKR's second investment in an RIL business this year. KKR had invested Rs 11,367 crore in RIL subsidiary Jio Platforms Ltd earlier this year.

Before KKR, US-based tech investor Silver Lake Partners had also announced investment of Rs 7,500 crore in Reliance Retail for a 1.75 per cent equity stake on a fully diluted basis on September 9.

Reliance Retail operates over 12,000 stores in India. In August this year, billionaire Mukesh Ambani's RIL had announced acquisition of the retail and wholesale business and the logistics and warehousing business from the Future Group as going concerns on a slump sale basis for aggregate consideration of Rs 24,713 crore.

Meanwhile, the RIL stock is 0.50 per cent or Rs 11.50 down at Rs 2,276 today, compared to the previous session close of Rs 2,287.5 on the National Stock Exchange.

Also read: Mukesh Ambani's Reliance Retail may go the JPL way; to raise Rs 63,000 cr from existing investors

Also read: How big is Mukesh Ambani's Reliance Retail

Also read: Mukesh Ambani on shopping binge; Reliance buys into 23 firms in 3 years

Also Read: Reliance Retail buys Future Group's retail business for Rs 24,713 crore

Youtube
  • Print

  • COMMENT
BT-Story-Page-B.gif
A    A   A
close