Last Updated : Sep 23, 2020 10:13 AM IST | Source: Moneycontrol.com

RIL share price gains 3% on investment by KKR in retail unit

This investment values Reliance Retail at a pre-money equity value of Rs 4.21 lakh crore.

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Reliance Industries (RIL) share price gained 3 percent in early trade on September 23 after the announcement global investment firm KKR will invest Rs 5,550 crore in the company's retail subsidiary.

American buyout firm KKR & Co will invest Rs 5,550 crore in the company's subsidiary Reliance Retail Ventures in exchange for a 1.28 percent stake, the second deal stitched up by the Reliance Industries Ltd (RIL) unit in as many weeks.

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This investment values Reliance Retail at a pre-money equity value of Rs 4.21 lakh crore.

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This marks the second investment by KKR in a subsidiary of Reliance Industries, following a Rs 11,367 crore investment in Jio Platforms announced earlier this year.


5 things to know about KKR-Reliance Retail deal

Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said, “I am pleased to welcome KKR as an investor in Reliance Retail Ventures as we continue our onward march to growing and transforming the Indian Retail ecosystem for the benefit of all Indians.”
 Private equity giant Silver Lake Partners said on September 9 that it will invest Rs 7,500 crore in Reliance Retail, India’s biggest brick-and-mortar retail business, for a 1.75 percent stake.


At 09:16 hrs, Reliance Industries was quoting at Rs 2,268.00, up Rs 56.85, or 2.57 percent on the BSE.



Disclaimer: Reliance Industries Ltd., which also owns Jio, is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
First Published on Sep 23, 2020 09:21 am

tags #Buzzing Stocks #Reliance Industries