12 September 2023, Mumbai
Reliance Retail secures Rs 2,069.50 crore investment from KKR
Investment values RRVL at Rs 8.361 lakh crore. RRVL now one of top four companies by equity value.
According to an ET report, Reliance Retail Ventures Limited (RRVL) is poised to secure an infusion of Rs 2,069.50 crore from the global investment firm KKR through one of its affiliates.
This strategic investment has led to the valuation of RRVL at an impressive pre-money equity value of Rs 8.361 lakh crore. As a result, RRVL has now solidified its position as one of the top four companies in the country by equity value, as highlighted in the press release.
It's worth noting that KKR's funding primarily originates from its Asian Fund IV, and the successful completion of this transaction is contingent upon receiving regulatory approvals and adhering to other customary procedures.
- The investment from KKR is a significant vote of confidence in RRVL's business model and growth prospects.
- The valuation of RRVL at Rs 8.361 lakh crore is a major milestone for the company and reflects its strong market position.
- The investment will help RRVL to accelerate its growth plans and expand its footprint across the country.