Question : Reliance Retail Ventures Limited, a subsidiary of the Reliance Industries, has recently received the subscription amount of Rs 5,550 crore from Alyssum Asia Holdings II Pte. Ltd. Alyssum is a part of which global investment firm ?
(a)KKR
(b)Vanguard group
(c)Fidelity
(d)Capital group
Answer (a)
Related facts
- Reliance Industries Ltd (RIL) on 15 October 2020 said it has received Rs 5,550 crore from global investment firm KKR, which has picked up 1.28 per cent stake in its retail arm.
- The investment valued Reliance Retail, which runs grocery stores and fashion chains, at a pre-money equity value of Rs 4.21 lakh crore.
- This marks the second investment by KKR in a subsidiary of Reliance Industries, following a ₹ 11,367 crore investment in Jio Platforms announced earlier this year.
- RIL is India’s largest private sector company, with a consolidated turnover of INR 659,205 crore ($87.1 billion), cash profit of INR 71,446 crore ($9.4 billion), and net profit of INR 39,880 crore ($5.3 billion) for the year ended March 31, 2020.
By — Pankaj Pandey.