KKR to invest Rs 2,069 crore to increase stake in Reliance Retail
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Reliance Industries said in the information given to the stock markets that this investment is being done on the basis of RRVL being valued at around $ 100 billion (Rs 8.361 lakh crore). Reliance said the deal places RRVL among the top four companies in the country based on equity valuation. After this investment, KKR’s stake in RRVL will increase from 1.17 percent to 1.42 percent.
Reliance Industries Ltd on Monday said global investment firm KKR will invest Rs 2,069.50 crore in its retail arm Reliance Retail Ventures Ltd (RRVL).
Reliance Industries said in the information given to the stock markets that this investment is being done on the basis of RRVL being valued at around $ 100 billion (Rs 8.361 lakh crore). Reliance said the deal places RRVL among the top four companies in the country based on equity valuation. After this investment, KKR’s stake in RRVL will increase from 1.17 percent to 1.42 percent.
In the year 2020 also, KKR had taken 1.17 percent stake in Reliance Retail for Rs 5,550 crore. Reliance is planning to expand its retail business very rapidly. Last week itself, Qatar’s government investment fund QIA also acquired about one percent stake in Reliance Retail for Rs 8,278 crore. In the year 2020, the company had received Rs 47,265 crore from global private equity funds in exchange for 10.09 percent stake in Reliance Retail. At that time its value was estimated at more than Rs 4.2 lakh crore.
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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