Reliance Retail Unlisted Shares
Reliance Retail receives full subscription amount of Rs 2,069 cr from KKR
Business Standard
2 min read
Reliance Retail Ventures Ltd (RRVL) receives a full subscription amount of Rs 2,069.50 Cr from the global investment firm KKR.
On September 24, 2023, RRVL allotted 17,158,752 equity shares to Alyssum Asia Holdings II Pte. Ltd. (KKR) following full payment. This investment from KKR, previously announced by Reliance Industries for its subsidiary earlier this month, valued RRVL at ₹8.36 trillion.
This allotment boosted KKR's stake in RRVL from 1.17% to 1.42%. KKR has assets under management worth $519 billion as of June 30, 2023.
In 2020, RRVL secured ₹47,265 crores from global private equity funds for a 10.09% stake, valuing RRVL at ₹4.2 trillion with Qatar Investment Authority (QIA) investing ₹8,278 crore earlier this month for about 1% stake in RRVL, valuing RRVL at ₹8.278 trillion.
RRVL, already expanding its reach, will prosper more after receiving capital assistance from a global giant like KKR.
The capital might be used to expand RRVL's existing operations, which already with its parent Reliance Industries, has 18k stores nationwide.
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