NEW DELHI: Private equity firm KKR & Co Inc will invest US$755 million in the retail unit of Reliance Industries Ltd , the Indian conglomerate said on Wednesday, bringing the total funding in Reliance Retail to US$1.78 billion within a month.
KKR's investment for a 1.28per cent stake in Reliance Retail values the company at 4.21 trillion rupees , Reliance said in a statement. KKR, which announced its biggest investment in Asia with a US$1.5 billion stake buy in Jio Platforms in May, said it was deepening its relationship with Reliance.Reliance Retail is"empowering merchants of all sizes and fundamentally changing the retail experience for Indian consumers," KKR co-founder Henry Kravis said in the statement.
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