KKR & Co to invest $755 Million in Reliance Industries’ retail arm

23.09.2020 - Evdokimov Roman
KKR & Co to invest $755 Million in Reliance Industries’ retail arm

On Wednesday, KKR & Co Inc (KKR.N) announced that it would invest 5,550 Million Crore ($755 Million) in Reliance Industries Ltd (RELI.NS) and Reliance Retail Ventures Limited (RRVL).

The American global investment company said that the investment would provide funds for Reliance worth $1.78 billion within a month.

Reuters reported that the Mumbai based multinational conglomerate company had reached out to Jio Platform’s investors to discuss shares acquisition.

Moreover, Silver Lake Resources (SLR), one of Jio Platform backers, stated that it would invest $1.02 billion in Reliance Retail.

“Retail, whether online or offline, is a very capital-intensive business, so for Reliance making sure that their retail venture has a funding pipeline of its own is important,” Third Eyesight’s Retail Consultancy Chief Executive Officer Devangshu Dutta said.

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