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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| KKR and Company Inc | NYSE:KKR | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 2.55 | 2.56% | 102.22 | 102.32 | 99.60 | 99.68 | 4,605,115 | 00:54:44 |
From May 2023 to May 2024
By P.R. Venkat
Private equity firm KKR plans to invest an additional 20.70 billion Indian rupees ($250 million) to boost its stake in the retail unit of the conglomerate Reliance Industries.
The investment would KKR's equity stake in the company to 0.25% on a fully diluted basis, Reliance said in a statement late on Monday. With the latest investment, KKR's stake in Reliance Retail will increase to 1.42%, the company said.
KKR had made its first investment in Reliance Retail in 2020 when the company raised INR472.65 billion from various global investors, which included the state-owned Abu Dhabi Investment Authority, and U.S. private-equity firms Silver Lake, General Atlantic and TPG.
Reliance Retail operates India's largest and fastest-growing retail business, with over 18,500 stores. For the fiscal year that ended in March, the company reported $31.7 billion in revenue and a net profit of $1.1 billion.
Write to P.R. Venkat at venkat.pr@wsj.com
(END) Dow Jones Newswires
September 11, 2023 18:54 ET (22:54 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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