Reliance Industries Ltd (RIL) has acquired Rs 5,550 crore from international funding agency KKR, which has picked up 1.28 per cent stake in its retail arm, the Mukesh Ambani-led firm stated as we speak.
In a regulatory submitting, Reliance Industries stated: “Reliance Retail Ventures Restricted, a subsidiary of the corporate, as we speak acquired the subscription quantity of Rs 5,550 crore from Alyssum Asia Holdings II Pte. Ltd. (a unit of KKR) and allotted 81,348,479 fairness shares to KKR.”
The funding valued Reliance Retail, which runs grocery shops and style chains, at a pre-money fairness worth of Rs four.21 lakh crore. This was KKR’s second funding in Reliance Industries’ models. Beforehand, it had picked up a 2.32 per cent stake within the digital arm, Jio Platforms, for Rs 11,367 crore.
Reliance Retail Restricted, a subsidiary of RRVL, operates India’s largest, fastest-growing and most worthwhile retail enterprise spanning supermarkets, shopper electronics chain shops, money and carry wholesale enterprise, fast-fashion retailers, and on-line grocery retailer JioMart. It operates nearly 12,000 shops in almost 7,000 cities.
After monetising Jio Platforms — which homes the agency’s telecom arm and digital ventures, billionaire Mukesh Ambani is roping in buyers within the retail enterprise.
All of the 13 buyers, who had poured in a mixed Rs 1.52 lakh crore in Jio Platforms, have been provided an opportunity to discover investing within the retail unit.
In addition to KKR, the opposite buyers in Jio Platforms embody Silver Lake, Fb, Google, non-public fairness teams Vista and Normal Atlantic and Abu Dhabi’s sovereign wealth fund Mubadala.
(With PTI inputs)