KKR & Co. is in talks to invest at least $1 billion in the retail business of Reliance Industries Ltd. The amount could strech to $1.5 billion.
Mukesh Ambani led Reliance Retail Ventures Ltd has recently received Rs 7,500 crore from Silver Lake, American equity firm.
Reliance Retail is a unit subsidiary of the energy-to-telecommunications conglomerate Reliance Industries Ltd. It runs India’s largest consumer electronics chain store, an online grocery store, JioMart. It had reported 1.63 trillion rupees in revenue in the year through March 2020, FY20.
Reliance had recently announced the acquisition of rival Future Group’ Retail business for Rs 24, 713 crore, almost doubling the footprint of its retail chains. Read here.
