Jobaaj Stories
Reliance Retail Ventures Limited (RRVL), a Reliance Industries subsidiary, has announced that global investment firm KKR will invest Rs 2,069.50 crore in the company.
This transaction values RRVL at an impressive well-before equity valuation of Rs 8.361 lakh crore, securing its position as one of India's top four companies by equity value. KKR's successive investment will give them an additional 0.25% equity stake in RRVL on a shares outstanding basis.
When combined with their previous investment of Rs 5,550 crore in RRVL in 2020, KKR will hold a total equity stake of 1.42% on a total equity basis.
Reliance Retail Ventures Limited serves an unbelievable 26.7 crore customers through its extensive network of 18,500 stores and digital commerce platforms. These services are available in a variety of industries, including grocery, consumer electronics, fashion and lifestyle, and pharmaceuticals.
RRVL Director Isha Mukesh Ambani expressed excitement about the partnership with KKR, mentioning their global platform, industry knowledge, and operation process in driving transformation in the Indian retail sector.
KKR Co-CEO Joe Bae praised Reliance Retail's resilience and vision and expressed hope for continued collaboration to support the company's mission of building a more inclusive Indian retail economy.
The investment comes primarily from KKR's Asian Fund IV, and the transaction is subject to regulatory approval. Reliance Industries' retail arm, RRVL, has been a game changer in India's retail industry, and KKR's ongoing support strengthens its position as a corporate leader and innovator.
In addition to RRVL, KKR is a shareholder in Jio Platforms Limited, Reliance Industries Limited's telecom platform. KKR's investment plan confirms its faith in RRVL's growth potential and vital role in shaping India's retail landscape.
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