December 6, 2023

KKR Picks Additional Rs 2069 Crore Stake In Reliance Retail

Mukesh Ambani led Reliance Retail Ventures has received an investment of Rs 2,069.50 crore through an affiliate of global investment firm KKR.

This investment values Reliance Retail a pre-money equity value of Rs 8.361 lakh crore, which makes it among the top four companies by equity value in the country.

“KKR’s follow-on investment will translate into an additional equity stake of 0.25 percent in Reliance Retail on a fully-diluted basis,” the retailer said in a press release.

This, combined with its stake from its investment of Rs 5,550 crore in 2020, will take its total equity stake in Reliance Retail to 1.42 percent on a fully-diluted basis.

The previous fund-raise round by Reliance Retail in 2020 from various global investors of an aggregate amount of Rs 47,265 crore was done at a pre-money equity value of Rs 4.21 lakh crore.

Reliance Retail through its various subsidiaries and associates operates India’s largest retail business serving 267 million loyalty customers with an integrated omnichannel network of over 18,500 stores and digital commerce platforms.

This omnichannel network is spread across fashion & lifestyle, grocery, consumer electronics, and pharma.

The Reliance Industries subsidiary reported a consolidated turnover of Rs 260,364 crore and net profit of Rs 9,181 crore in the year ended March 31, 2023.

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