Warning: getimagesize(): SSL operation failed with code 1. OpenSSL Error messages: error:1416F086:SSL routines:tls_process_server_certificate:certificate verify failed in /home/customer/www/news69.net/public_html/wp-content/plugins/td-cloud-library/shortcodes/header/tdb_header_logo.php on line 792

Warning: getimagesize(): Failed to enable crypto in /home/customer/www/news69.net/public_html/wp-content/plugins/td-cloud-library/shortcodes/header/tdb_header_logo.php on line 792

Warning: getimagesize(https://news69.net/wp-content/uploads/2020/05/logo-2.png): failed to open stream: operation failed in /home/customer/www/news69.net/public_html/wp-content/plugins/td-cloud-library/shortcodes/header/tdb_header_logo.php on line 792

Warning: getimagesize(): SSL operation failed with code 1. OpenSSL Error messages: error:1416F086:SSL routines:tls_process_server_certificate:certificate verify failed in /home/customer/www/news69.net/public_html/wp-content/plugins/td-cloud-library/shortcodes/header/tdb_header_logo.php on line 792

Warning: getimagesize(): Failed to enable crypto in /home/customer/www/news69.net/public_html/wp-content/plugins/td-cloud-library/shortcodes/header/tdb_header_logo.php on line 792

Warning: getimagesize(https://news69.net/wp-content/uploads/2020/05/logo-2.png): failed to open stream: operation failed in /home/customer/www/news69.net/public_html/wp-content/plugins/td-cloud-library/shortcodes/header/tdb_header_logo.php on line 792
Thursday, October 29, 2020
Home Lifestyle US Buyout Firm To Invest Rs 5,550 Crore In RIL For 1.28%...

US Buyout Firm To Invest Rs 5,550 Crore In RIL For 1.28% Equity Stake



New Delhi: In yet another major boost to Reliance Retail, a subsidiary of Reliance Industries, a global firm KKR will invest Rs 5,550 crore, which values the entity at a pre-money equity value of Rs 4.21 lakh crore. The investment was announced by the retail firm on Wednesday. The investment will translate into a 1.28% equity stake in RRVL on a fully diluted basis. ALSO READ | Facebook India Moves SC Against Notice Issued By Delhi Assembly Over Role In Feb Riots; Hearing Today

“KKR has a proven track record of being a valuable partner to industry-leading franchises and has been committed to India for many years. We look forward to working with KKR’s global platform, industry knowledge and operational expertise across our digital services and retail businesses,” said Mukesh Ambani, Chairman and Managing Director of Reliance Industries.

In a span of two weeks, Reliance Retail garnered investment from two entities. Earlier, the home grown retail firm had announced investment to the tune of Rs 7,500 crore from private equity giant Silver Lake Partners for a 1.75 per cent stake.

The recent announcement comes as the second investment by KKR in a subsidiary of Reliance Industries, following a Rs 11,367 crore investment in Jio Platforms announced earlier this year.

As per Reliance Retail, the company sees around 640 million footfalls across its nearly 12,000 stores nationwide.

ALSO READ | “Time To Separate”: Shapoorji Pallonji Which Owns 18.5% Stake, Exits Tata Group

Founded in 1976, KKR has successfully investing in businesses in the technology sector, including BMC Software, ByteDance and GoJek through its private equity and technology growth funds.

Since inception, the firm has invested over $30 billion (total enterprise value) in tech companies, and today the firm’s technology portfolio has more than 20 companies across the technology, media and telecom sectors. In addition, India has been a key strategic market for KKR with a history of investing in the country since 2006.

Morgan Stanley acted as financial advisor to Reliance Retail and Deloitte Touche Tohmatsu India LLP acted as financial advisor to KKR for this deal.



Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Military talks with China have nothing to do with ‘any external issue’: India | चीन के साथ सैन्य वार्ता का ‘किसी बाहरी मुद्दे’ से...

नई दिल्ली: भारत ने गुरुवार को कहा कि सीमा विवाद को लेकर चीन (China) के साथ उसकी सैन्य वार्ता का किसी भी बाहरी...

3 BJP Workers Including Youth General Secretary Killed By Terrorists In Kulgam

Jammu and Kashmir: In a terrorist attack in Jammu and Kashmir’s Kulgam three Bharatiya Janata Party workers were...

Neha Kakkar Shares UNSEEN PICS From Her Wedding; Dedicates Mushy Post For Husband Rohanpreet Singh

Neha Kakkar Shares UNSEEN PICS From Her Wedding; Dedicates Mushy Post For Husband Rohanpreet Singh

Is This A Case Of Love-Jihad?| ABP Uncut

In the Nikita Tomar murder case of Faridabad, the police has made a third arrest. Tauseef, the accused of shooting Nikita, has been...

Recent Comments