Private equity firm KKR has provided Rs 5,550-crore subscription amount for a 1.28 per cent stake in the retail arm of Reliance Industries (RIL). “Reliance Retail has received the subscription amount from Alyssum Asia Holdings II (KKR) and allotted 81,348,479 equity shares to KKR,” RIL said. Last month, RIL had announced the deal with KKR which had valued its retail unit at Rs 4.2 trillion.
So far, Reliance Retail has raised Rs 37,710 crore from multiple investors, offloading 8.48 per cent stake. Speculation is rife that tech investors may come on board now, though a RIL spokesperson said: “As policy we don’t comment on speculation and rumours. Our company evaluates various opportunities on an ongoing basis. We have made and will continue to make necessary disclosures in compliance with our obligations under Sebi and our agreements with the stock exchanges.”
In May, KKR had also said it would invest Rs 11,367 crore in Jio Platforms, the digital services platform of RIL. So far, the investors in Reliance Retail are those that have invested in Jio Platforms earlier.
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