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RIL's Reliance Retail Bags Another Investment From KKR; Stock Down Over 1 Percent
On Thursday, Mukesh Ambani led RIL announced that it has garnered another investment worth Rs. 5500 crore from KKR, global investment firm, for its retail venture, Reliance Retail. In an exchange filing, RIL said, "Reliance Retail Ventures Limited, a subsidiary of the Company, today received the subscription amount of Rs 5,550 crore from Alyssum Asia Holdings II Pte. Ltd. (KKR) and allotted 81,348,479 equity shares to KKR".
This investment is for a 1.28% buy-out in the firm and the deal values the company's retail enterprise at a pre-money equity value of Rs 4.21 lakh crore.
Before this the firm bagged investment from Abu Dhai Investment Authority, Silver Lake, General Atltantic as well as Abu Dhabi sovereign wealth fund Mubadala Investment Co, TPG, GIC among others.
RIL's share in line with the benchmark indices were dragged over 1 percent to day's low of Rs. 2253 per share on the BSE.
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