The latest input from KKR will fetch it an additional 0.25 per cent equity stake in RRVL, on a fully diluted basis. When combined with KKR's previous investment of ₹5,550 crore in 2020, its cumulative equity stake in RRVL shoots up to a notable 1.42 per cent. To put this into perspective, the investment round spearheaded by RRVL in 2020 raked in ₹47,265 crore from a consortium of global investors, benchmarking its pre-money equity value at ₹4.21 lakh crore at that juncture, RRVL said in a media release.
“We are pleased to receive continued support from KKR as an investor in Reliance Retail Ventures Limited. We highly value our deepening partnership with KKR, and their latest investment in RRVL after their previous investment further reinforces their strong belief in RRVL’s vision and capabilities. We look forward to continued engagement with KKR and to benefit from their global platform, industry knowledge and operational expertise, in our journey towards driving transformation of the Indian retail sector,” said Isha Mukesh Ambani, director, Reliance Retail Ventures Limited.
“We are pleased to extend our relationship with Reliance Retail Ventures Limited. Throughout our investment period in Reliance Retail, we have been impressed by the company’s vision and extensive work to empower retailers across India through digitalisation, as well as by its resilience and performance in spite of the pandemic and other disruptions. We look forward to continuing to work alongside the Reliance Retail team to support the company’s mission to build a more inclusive Indian retail economy,” said Joe Bae, Co-CEO, KKR.
“Reliance Retail is a true corporate leader and innovator in India, and its differentiated model has the potential to digitalise and transform the country’s retail industry. We are pleased to have the opportunity to continue collaborating with this team and pursue the growth opportunities ahead,” said Gaurav Trehan, head of Asia Pacific private equity and head of India, KKR.
Fibre2Fashion News Desk (DP)