| This investment values Reliance Retail at a pre-money equity value of Rs 4.21 lakh crore. KKR's investment will translate into a 1.28% equity stake in RRVL on a fully diluted basis. This marks the second investment by KKR in a subsidiary of RIL, following a Rs 11,367 crore investment in Jio Platforms announced earlier this year. Reliance Retail, a subsidiary of RRVL, operates India's largest, fastest growing and most profitable retail business serving close to 640 million footfalls across its 12,000 stores nationwide. Founded in 1976, KKR has $222 billion in assets under management as of 30 June 2020 .The firm currently has approximately $5.1 billion in private equity investments across more than 15 Indian companies, including Jio Platforms, JB Chemicals, Max Healthcare, Eurokids International and Ramky Enviro Engineers. KKR is making its investment from its Asia private equity funds. The transaction is subject to regulatory and other customary approvals. RIL is India's largest private sector company. Its activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and digital services. The conglomerate reported a 31% jump in consolidated net profit to Rs 13,248 crore in Q1 June 2020 compared with Rs 10,141 crore in the corresponding period of last year. Consolidated total income for the quarter stood at Rs 95,626 crore, down 42.11% compared with Rs 165,199 crore year-on-year. Powered by Capital Market - Live News |