American buyout firm KKR & Co will invest Rs 5,550 crore in Reliance Retail Ventures for a 1.28 percent stake, the second deal stitched up by the retail unit of Reliance Industries Ltd (RIL) within a month.
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.
Read: KKR to invest in Reliance Retail: Key things to know about the deal
Reliance Retail operates India's largest retail business serving close to 640 million footfalls across its 12,000-odd stores nationwide in 7,000 cities.
In an interview with CNBC-TV18, Amnish Aggarwal, head-research at Prabhudas Lilladhar, Rajiv Sharma, head-research at SBICAP Securities, Prakash Diwan, market expert and Deven Choksey of KRChoksey, discussed at length about what this deal means for Reliance Industries’ stock and for the competing stocks in retail space.