KKR to invest $755m in Indian Reliance retail

KKR & Co. Inc. will invest $755 million in the retail unit of Reliance Industries Ltd, the Indian conglomerate said, bringing the total funding in Reliance Retail to $1.78 billion within a month. Reliance Industries, controlled by Asia’s richest man Mukesh Ambani, is lining up investors in its retail unit after the conglomerate raised just over $20 billion this year from global investors by selling stakes in its Jio Platforms digital business. Reliance has approached investors in Jio Platforms about buying stakes in its retail arm, Reuters had reported. Silver Lake, another of Jio Platforms’ backers, said this month it will invest

$1.02 billion in Reliance Retail. KKR’s investment for a

1.28 percent stake in Reliance Retail values the company at

4.21 trillion rupees ($57 billion), Reliance said in a statement.