New Delhi: Reliance Retail Ventures Limited (RRVL), the retail arm of Reliance Industries, has received Rs 2,069.50 crore from global investment firm KKR for its stake sale. The company has allotted 1.71% equity shares to KKR. After the share allotment, KKR’s stake in RRVL has increased from 1.17 percent to 1.42 percent.
HLRRVL today received Rs 2,069.50 crore from Alyssum Asia Holdings-2 Pvt Ltd and allotted 1,71,58,752 equity shares to KKR, Reliance Industries told the stock market on Saturday. KKR had announced an investment of Rs 2,069.50 crore for an additional 0.25 per cent stake in RRVL at a valuation of Rs 1 lakh crore.
KKR had about $519 billion of assets under management as of June 30, 2023. KKR was formed in 1976. Earlier this month, Reliance Industries had received Rs 8,278 crore from Qatar Investment Authority for the sale of one per cent stake in RRVL at a valuation of Rs 8.278 lakh crore.
RRVL had raised Rs 47,265 crore (about $6.4 billion) from global private equity funds in 2020 for a 10.09 percent stake. At that time the valuation of the company was more than Rs 4.2 lakh crore. It was the largest fund raising deal in the sector at that time.