US private equity firm KKR will invest Rs. 5,550 crores in Reliance's retail arm, giving the unit a pre-money valuation of Rs. 4,21,000 crores, the Indian conglomerate said on Wednesday.
Powered by Reliance's Jio tech platform, the unit owns retail businesses as varied as grocery stores and fashion chains, and operates close to 12,000 stores across India.
KKR in May invested $1.5 billion (roughly Rs. 11,035 crores) in Reliance's digital business, its biggest investment in Asia, as part of a funding round that saw the Indian company raise more than $20 billion (roughly Rs. 1,47,150 crores) from investors including Facebook and Alphabet Inc's Google.
KKR will make the investment from its Asia private equity funds.
© Thomson Reuters 2020
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