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KKR to invest ₹2,069 cr in Reliance Retail, raise stake to 1.42%
Mint Mumbai
|September 12, 2023
Global investment firm KKR is set to raise its stake in Reliance Retail Ventures Ltd (RRVL) from 1.17% to 1.42% by infusing ₹2,069 crore through an affiliate. In 2020, KKR had invested ₹5,550 crore for the first time in the retail business, spanning grocery, consumer electronics, apparel, footwear, online commerce, and jewellery.
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For this transaction, RRVL had a pre-money equity value of ₹8.361 trillion, which makes it among the top four companies by equity value in India, said Reliance Industries Ltd (RIL) in a filing to exchanges on Monday. “KKR’s follow-on investment will translate into an additional equity stake of 0.25% in RRVL on a fully-diluted basis. Combined with its stake from an investment of ₹5,550 crore in RRVL in 2020, it will take its total equity stake in RRVL to 1.42% on a fully-diluted basis," it added.
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