India’s Reliance Industry subsidiary Reliance Retail Ventures Ltd (Reliance Retail) is attracting several big money interests from investment firms across the globe.
While American private equity firm Silverlake has already confirmed an investment of $1 billion dollars for a 1.75 percent stake in the Reliance’s retail arm, another US-based investor KKR & Co is reportedly in talks with the firm for a minimum investment of $1 billion.
Both of them have already made a significant investment in Reliance’s digital arm Jio Platforms earlier this year.
“I am delighted to extend our relationship with Silver Lake to our transformational efforts of building an inclusive partnership with millions of small merchants while providing value to Indian consumers across the country in the Indian retail sector. We believe technology will be key to bringing the much-needed transformation in this sector so that various constituents of the retail ecosystem can collaborate to build inclusive growth platforms. Silver Lake will be an invaluable partner in implementing our vision for Indian Retail.”
Reports suggest that KKR & Co is in discussions for a stake in Reliance Retail Ventures Ltd and the private equity firm could invest as much as $1.5 billion and an announcement could come as soon as this month.
Weeks after Mukesh Ambani-led Reliance Industries raised a little over $20 billion selling stakes technology venture Reliance Jio Platforms to investors including Facebook Inc. and Google, the conglomerate is seeking to repeat the same with the retail business.