After raising investment in Jio platforms, Mukesh Ambani is now raising funds for his retail company. Reliance Retail, owned by Mukesh Ambani, has received its second investor. After the world's largest tech investor Silver Lake, now American company KKR has announced to purchase a stake in Reliance Retail. KKR will purchase 1.28 per cent stake for Rs 5550 crore.
KKR has invested in Reliance Retail at a valuation of Rs 4.21 lakh crore. Keep in mind that at the beginning of the year, KKR invested 11,367 crore in Jio platforms. This is KKR's second investment in a subsidiary of Reliance Industries. Reliance Retail Limited receives around 64 crore customers annually in more than 12,000 stores spread across the country. It is the largest and fastest-growing retail business in the country.
Reliance Retail also has the most profitable retail business in India. The company wants to develop a network of retail global and domestic companies, small industries, retail traders and farmers to provide services to the users at an affordable price and generate millions of jobs. Reliance Retail has started digitizing small and unorganized businesses under its new commerce scheme. This scheme can also be beneficial for the country.
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