Scaling Up In Indian Retail: KKR Increases Stake In Reliance Retail Ventures
Portfolio Pulse from Lekha Gupta
KKR & Co Inc has increased its stake in Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries, through an investment of 2,069.50 crore rupees. This investment raises KKR's stake to 1.42% from 1.17%. KKR also disclosed a new equity investment of over $1 billion in USI Insurance Services. Last month, KKR reported Q2 revenues of $3.63 billion, significantly higher than the previous year. KKR shares are currently trading higher by 0.76% at $63.30.
September 11, 2023 | 5:19 pm
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KKR has increased its stake in Reliance Retail Ventures and made a new equity investment in USI Insurance Services. The company's Q2 revenues were significantly higher than the previous year and its shares are trading higher.
The news of KKR's increased stake in Reliance Retail Ventures and new investment in USI Insurance Services, along with its strong Q2 revenues, are likely to have a positive impact on the company's stock in the short term. The fact that KKR shares are already trading higher supports this analysis.
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IMPORTANCE 80
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