Reliance Industries (RIL) on Wednesday announced that American buyout firm KKR & Co will invest Rs 5,550 crore in Reliance Retail Ventures (RRVL). This is the second deal in 2 weeks stitched up by the retail unit of Reliance Industries.

Silver Lake, earlier in the month, announced that it will invest Rs 7,500 crore for a 1.75 percent equity stake in the subsidiary. Both KKR and Silver Lake have invested in RIL subsidiary Jio Platforms as well.

>>KKR to invest in Reliance Retail: Here's what experts make of the latest deal

Here are the key things to know about the latest deal:

- KKR’s investment will translate into a 1.28 percent equity stake in RRVL on a fully diluted basis.

- The investment values Reliance Retail at a pre-money equity value of Rs 4.21 lakh crore.

- This is the second investment by KKR in a Reliance arm after investment in Jio Platforms earlier this year.

- KKR had invested Rs 11,367 crore ($1.5 billion) in Jio Platforms for a 2.32 percent stake in the company.

- KKR, headquartered in New York, was founded in 1976 by Jerome Kohlberg Jr, Henry Kravis and George Roberts.

- KKR had $222 billion in assets under management as of June 30, 2020.

- Founded in 2006, Reliance Retail operates India's largest, fastest-growing and most profitable retail business.

- It serves close to 640 million footfalls across its 12,000-odd stores nationwide in 7000 cities.

- Last month, Reliance Retail had announced the acquisition of the retail and logistics businesses of Kishore Biyani’s Future Group in a $3.38 billion deal, including debt.

First Published:Sept 23, 2020 9:19 AM IST