Mumbai, 11/9: Reliance Industries Ltd on Monday said global investment firm KKR will invest Rs 2,069.50 crore into its retail arm Reliance Retail Ventures Limited (RRVL) to raise its stake to 1.42 per cent from 1.17 per cent.
The investment is at “a pre-money equity value of Rs 8.361 lakh crore (around $100 billion)”, Reliance Industries Ltd said in a regulatory filing. The deal makes RRVL “among the top four companies by equity value in the country”, it added.
RRVL is aggressively expanding its business by acquiring companies and getting franchise rights of leading international brands for the Indian market. Besides, it is investing in scaling up infrastructure and also acquired the India business of Germany.