Reliance Retail gets another investment; RIL stock up by 2.30 per cent
Reliance Industries Limited and Reliance Retail Ventures Limited (RRVL) announced today that the global investment firm KKR will invest Rs 5,550 crore into RRVL, a subsidiary of Reliance Industries.
This investment will give Reliance Retail, a pre-money equity valuation of Rs 4.21 lakh crore. KKR’s investment will translate into a 1.28 per cent equity stake in RRVL on a fully-diluted basis. Earlier, KKR had also invested Rs 11,367 crore in Jio Platforms.
Reliance Retail Limited operates approximately 11,806 stores nationwide. Reliance Retail had revenue of Rs 31,633 crore in Q1FY21. Its net profit number for the quarter stood at Rs 431 crore. It has an operational area of around 29 million sq. ft as of Q1FY21. Reliance Retail Ventures Limited is a subsidiary of Reliance Industries Limited and a holding company of all the retail companies under RIL Group. The quarter saw 21 per cent growth YoY across the operational businesses of grocery and connectivity.
Reliance Retail topped the list of ‘50 fastest-growing retailers globally between FY2013-2018’ in Deloitte's Global Powers of Retailing 2020 index. Reliance Retail secured the 56th spot this year against 94th rank of the previous year and is the only Indian company to be featured in this list.
The stock opened today at Rs 2,275, up by 2.88 per cent or Rs 63.85 higher than its previous close.