New Delhi : Reliance Retail Ventures Ltd, the retail arm of Reliance Industries, has received the full subscription amount of Rs 2,069.50 crore from the global investment firm KKR and has allotted 1.71 crore equity shares. Following the share allotment, KKR's shareholding in Reliance Retail Ventures Ltd (RRVL) has increased to 1.42 per cent, from 1.17 per cent.
"Reliance Retail Ventures Ltd today received the subscription amount of Rs 2,069.50 crore from Alyssum Asia Holdings II Pte. Ltd. (KKR) and allotted 1,71,58,752 equity shares to KKR," Reliance Industries said in a regulatory filing on Saturday evening. Earlier this month, Reliance Industries had announced KKR's investment of Rs 2,069.50 crore in RRVL, the holding company of the retail business of billionaire Mukesh Ambani-led group, for a 0.25 per cent additional stake at a valuation of about Rs 8.36 lakh crore.
Founded in 1976, KKR has approximately USD 519 billion in assets under management as of June 30, 2023. Earlier this month, RIL received Rs 8,278 crore from Qatar Investment Authority (QIA) for around 1 per cent stake in RRVL at a valuation of Rs 8.278 lakh crore (USD 100 billion).
