KKR Confirmed Investment Into Reliance Retail
KKR & Co. Inc. which is the most leading Americal global investment company is going to invest on Reliance Industries Limited and Reliance Retail Ventures Limited (RRVL) as confirmed on Wednesday. The funding firm will invest Rs. 5,500 crore in RRVL soon.
The KKR portfolio value is Rs. 4.21 lakh crores and which will invest 1.28 percentage of total investment on RRVL. Previously the same firm invested Rs. 11,367 crore in Reliance Jio platform. Reliance is now trying to attract more FDI into their platform. Reliance online retail business may be the next big thing in Indian after Reliance offered Jio Service.
During this announcement Co-Founder and Co-CEO of KKR, Henry Kravis said he was happy to create deep relationship with Reliance Industries through their investment in Reliance Retail Ventures, which provides opportunity to all size of merchants to come online platform for selling products. Reliance Retail will soon add more shop owner into their platform to provide a wide level of service through online portal. Reliance already have 12,000 stores in nationwide.