Skip to main content

KKR to invest Rs 5,550 crore in Reliance Retail Ventures for 1.28% equity

Earlier, Silver Lake had invested Rs 7,500 cr into Reliance Retail Ventures, valuing the business at about Rs 4.2 trillion

Mukesh Ambani. Photo: Bloomberg

Global investment firm KKR will invest Rs 5,500 crore in Reliance Retail for 1.28 per cent equity share, Reliance Industries Limited said in a BSE filing on Wednesday. This marks the second investment by KKR in a Reliance subsidiary, following a Rs 11,367 crore investment in Jio Platforms announced earlier this year.

KKR’s investment values Reliance Retail at a pre-money equity value of Rs 4.21 trillion. “I am pleased to welcome KKR as an investor in Reliance Retail Ventures as we continue our onward march. KKR has a proven track record of being a valuable partner to industry-leading franchises and has been committed to India for many years,” said Mukesh Ambani in a statement issued by RRVL.

Reliance Retail runs supermarkets, India’s largest consumer electronics chain store, a cash and carry wholesaler, fast-fashion outlets and an online grocery store JioMart. The acquisition of Future Group’s retail business added about 1,700 large stores to RIL’s 11,806 stores in its retail segment and increased its organised retail revenue market share by around 5 per cent.

Weeks after Ambani, raised about $20 billion selling stakes in his technology venture to investors including Facebook Inc. and Google, the tycoon is repeating the same with his retail business. Earlier, Silver Lake had invested Rs 7,500 cr into Reliance Retail Ventures, valuing the business at about Rs 4.2 trillion. Silver Lake also put $1.35 billion for a stake in Ambani’s Jio Platforms Ltd, while KKR invested $1.5 billion.

Henry Kravis, Co-Founder and Co-CEO of KKR said, “We are pleased to deepen our relationship with Reliance Industries through this investment in Reliance Retail Ventures. Reliance Retail’s new commerce platform is filling an important need for both consumers and small businesses as more Indian consumers move to shopping online.”

Labels:

Comments

Post a Comment

Popular posts from this blog

Best Unconventional Workout and Sporting Activities for Summer

In summers, depending upon conditions and circumstances one can incorporate both outdoor  and indoor activities in their training schedule.   Summer is the season of holidays, picnics, outings and beaches. With travel and binge eating proper workout becomes that much more essential in summers. But with heat and the sun outdoors, an individual has to balance his indoor and outdoor activities to get a fulfilling workout. In summers, depending upon conditions and circumstances one can incorporate both outdoor and indoor activities in their training schedule. Mentioned below are some of the best physical and sporting activities that one can use as a workout to stay fit in the summer season. Beach Sports - If in summers one is going to spend much time on beaches or at a beach destination then one may use beach sporting activities such as beach rugby, beach soccer, beach tennis and beach volleyball to stay fit. All of these sporting activities on sand provide a ...
Post a Comment
Read more

Back in TV studio after release from jail, Arnab dares Maharashtra CM

  Goswami also singled out Mumbai police commissioner Param Bir Singh for his ‘illegal’ arrest on November 4 in a 2018 suicide abetment case Back in the familiar environs of the TV newsroom after a week in judicial custody, journalist Arnab Goswami on Wednesday hit out at Maharashtra Chief Minister Uddhav Thackeray for arresting him in a ‘fake’ case. “Uddhav Thackeray, listen to me. You lost. You have been defeated,” said Goswami (47), while being surrounded by visibly relieved colleagues from his Republic TV channel. Soon after his release from Taloja jail near Mumbai around 8.30 pm, Goswami drove to the Lower Parel studio of the channel, of which he is the Editor-in-Chief.  Arnab Goswami  also singled out Mumbai police commissioner Param Bir Singh for his ‘illegal’ arrest on November 4 in a 2018 suicide abetment case. Goswami said that while in Taloja jail since November 8, he was subjected to three rounds of police interrogation. “Uddhav Thackeray, you arrested me in a...
Post a Comment
Read more

Mi Notebook Ultra review: Xiaomi energises the boring consumer PC segment

  The Mi Notebook Ultra challenges the conventions set by the legacy consumer PC makers by democratising features and specifications usually seen in laptops that cost almost twice as much I was planning to buy a midrange laptop and was amazed to see that every other legacy brand in the consumer PC market had products with similar features and specifications. Blame the oligopoly, but as a consumer I was almost convinced that the product offerings by the legacy PC makers were the best available in the market. And then was released the Mi Notebook Ultra by Chinese technology company Xiaomi. A premium laptop, the  Mi Notebook Ultra  challenged the conventions set by legacy consumer PC makers by democratising features and specifications usually seen in laptops that cost almost twice as much as the top-end model (review unit – Rs 76,999) on offer here. Starting with the design, the Mi Notebook Ultra boasts a unibody made of series 6 ...
Post a Comment
Read more