The world’s leading investment company KKR will now invest Rs 5550 crore in Reliance Retail (RRVL). In return, the company will get a 1.28 percent stake in Reliance Retail. KKR had earlier invested Rs 11367 crore in RIL’s digital arm Jio platform. After this investment, the equity value of Reliance Retail Ventures Ltd will be Rs 4.21 lakh crore. This is to inform you all that Reliance Retail Limited, a subsidiary of RRVL, runs India’s fastest growing retail business.
US investment company KKR, established in 1976, has assets of $ 222 billion, or $ 22200 million as of June 30, 2020. At the same time, according to the data of Reliance Retail, about 64 crore buyers come to its 12 thousand stores spread across the country. It is the largest and fastest growing retail business in India.
Henry Kravis, co-founder and co-CEO of KKR said that Reliance Retail’s new business platform is meeting the critical needs of both consumers and small businesses in India. More and more people in the country are turning to online. In this situation, the company is emerging as an important part of the entire value chain for grocery stores. We are excited to be part of this campaign of Reliance.
On this occasion, Mukesh Ambani, Chairman and MD of Reliance Industries said that it is happy to welcome KKR as an investor in Reliance’s retail venture. In this way we will continue our campaign for the development of India’s retail ecosystem.