American company KKR invests Rs 5,550 crore in Reliance Retail, to buy 1.28% stake

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New Delhi, 23 September 2020, Wednesday

After succeeding in attracting investment in Reliance Jio, Mukesh Ambani has also started raising funds for his Reliance retail company.

Reliance Retail has found its second investor. After the world's largest tech investor Silver Lake, KKR has announced a 1.28 per cent stake in Reliance Retail for Rs 5,550 crore.

KKR has invested in Reliance Retail with a valuation of Rs 4.21 lakh crore. Earlier, KKR had invested Rs 11,367 crore in Reliance Jio.

Reliance Retail has about 12000 stores in the country and is visited by 640 million people. Reliance Retail wants to set up a structure in which small companies, industries, farmers can be covered and people can get things at affordable prices and millions of people can be employed. For this, the company has also started a project of digitization of small traders.

Mukesh Ambani, chairman of Reliance Retail, welcomed the new investment, while Henry Kravis, co-founder of KKR, said, "We are going to strengthen our relationship with Reliance. Reliance in India is changing the retail experience of Indian customers."

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