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KKR, GIC eye Carlyle’s Nxtra stake; Reliance Retail Ventures to raise funds

VCCircle

VCCircle · 1y ago

KKR, GIC eye Carlyle’s Nxtra stake; Reliance Retail Ventures to raise funds

Private equity firm Carlyle Group is reportedly in talks to sell its 24% stake in Nxtra Data, the data center subsidiary of Bharti Airtel. Potential buyers include sovereign wealth funds Abu Dhabi Investment Authority and Singapore's GIC, as well as private equity giant KKR. Meanwhile, Reliance Retail Ventures is looking to raise funds as it continues its aggressive expansion strategy in the retail sector.

Related News

Grapevine: ITC eyes Prataap Snacks; GIC, KKR join race for Carlyle’s stake in Airtel's data centre

VCCircle

VCCircle · 1y ago

Grapevine: ITC eyes Prataap Snacks; GIC, KKR join race for Carlyle’s stake in Airtel's data centre

ITC is said to be exploring the acquisition of a majority stake in Prataap Snacks, as Peak XV Partners, the current stakeholder, is looking to exit. The talks with Haldiram's didn't work out due to a valuation mismatch. Prataap Snacks is well-known for its popular snack products, including Yellow Diamond chips and traditional Indian namkeen under the Avadh brand. In other news, GIC and KKR have joined the race to acquire Carlyle's stake in Bharti Airtel's data centre business.

Indian billionaire Ambani's Reliance Retail to raise $598 mln from ADIA

Reuters · 1y ago

Indian billionaire Ambani's Reliance Retail to raise $598 mln from ADIA

Abu Dhabi Investment Authority (ADIA) is set to invest 49.67 billion rupees ($597.58 million) in Reliance Retail Ventures, the retail unit of Reliance Industries owned by Indian billionaire Mukesh Ambani. The investment will give ADIA a 0.59% stake in the company at a valuation of $100.8 billion. This comes as Reliance Retail has been attracting investments from other entities like KKR & Co and Qatar Investment Authority, as it competes with Amazon and Flipkart.

ADIA may infuse $600 million in Mukesh Ambani's Reliance Retail

Livemint

Livemint · 1y ago

ADIA may infuse $600 million in Mukesh Ambani's Reliance Retail

The Abu Dhabi Investment Authority (ADIA) is reportedly considering investing $600 million in Reliance Retail, owned by Mukesh Ambani. ADIA has already invested in Reliance Retail Ventures, acquiring a 1.2% stake in 2020. This potential investment comes after Reliance Retail received significant investments from global firms such as KKR and Qatar Investment Authority earlier this year. Reliance Retail has been expanding its business through acquisitions and franchise rights, with a network of over 18,500 stores and digital platforms across various sectors.

KKR to invest ₹ 2,069.50 crore in Reliance Retail

Livemint

Livemint · 1y ago

KKR to invest ₹ 2,069.50 crore in Reliance Retail

KKR is investing an additional ₹5,550 crore (about $745 million) in Reliance Retail Ventures Limited (RRVL), increasing its equity stake in the Indian retail giant to 1.42%. RRVL operates India's largest retail business, serving 267 million loyalty customers through an omni-channel network of over 18,500 stores and digital commerce platforms. KKR's investment comes from its Asian Fund IV and continues its support of RRVL's vision to transform the Indian retail sector. The transaction is subject to regulatory approvals.

India's Reliance Retail in $1.5 bln Gulf, Singapore funds talks -sources

Reuters · 1y ago

India's Reliance Retail in $1.5 bln Gulf, Singapore funds talks -sources

Reliance Retail, India's largest retailer, is reportedly in discussions with existing investors, including Singapore's GIC, Abu Dhabi Investment Authority (ADIA), and Saudi Arabia's Public Investment Fund (PIF), for combined new investments totaling around $1.5 billion. This initiative is part of Reliance's goal to raise $3.5 billion by the end of September. The investors are looking to invest at least $500 million each in Reliance Retail at a valuation of $100 billion. Reliance Retail has witnessed significant growth and expansion in recent years, with investments from various stakeholders.

Grapevine: PE-backed firms eye Sharp Sight; KKR pauses Lighthouse Learning sale

VCCircle

VCCircle · 12m ago

Grapevine: PE-backed firms eye Sharp Sight; KKR pauses Lighthouse Learning sale

The founders of Sharp Sight Eye Hospitals are considering selling a controlling stake, which would allow private equity investor InvAscent to exit the company. Investment bankers have been invited to bid for the opportunity to raise fresh capital and facilitate the exit. This comes as PE-backed eyecare chains ASG Eye Hospital and Eye-Q Vision plan to merge, eyeing potential consolidation in the industry. In other news, KKR has decided to temporarily pause the sale of Lighthouse Learning, a move that may have been influenced by the current market conditions.

Qatar Investment Authority to invest ₹8,278 crore in Reliance Retail Ventures

Livemint

Livemint · 1y ago

Qatar Investment Authority to invest ₹8,278 crore in Reliance Retail Ventures

Qatar Investment Authority (QIA) will invest ₹8,278 crore in Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries Limited. This translates to a 0.99% minority equity stake in RRVL, valuing it at ₹8.278 lakh crore. The investment underscores QIA's confidence in the Indian economy and Reliance's retail strategy.

Ambani's Reliance Retail in talks to raise $2.5B by this month's end

IndianStartupNews

IndianStartupNews · 1y ago

Ambani's Reliance Retail in talks to raise $2.5B by this month's end

Reliance Retail, owned by Reliance Industries, is reportedly in discussions with global investors to secure an additional $2.5 billion (INR 20,680 crore) in funding by September 2023. This funding is part of a $3.5 billion target fund, with the first $1 billion already secured from Qatar Investment Authority (QIA). Reliance Retail, valued at $100 billion, is said to be considering opportunities for expansion and growth. The move follows the recent announcement of Reliance Industries' plans to sell an 8-10% stake in Reliance Retail Ventures Limited.

Big Reliance Retail investors to hold similar stakes in FMCG entity

Economic Times

Economic Times · 8d ago

Big Reliance Retail investors to hold similar stakes in FMCG entity

Reliance Retail is restructuring its FMCG business to consolidate it under New Reliance Consumer Products Ltd, a direct subsidiary of Reliance Industries Ltd. This move ensures that nine global investors holding 13% in the retail business will maintain equivalent stakes in the new FMCG entity. The restructuring is designed to help Reliance raise more funds and enhance the valuation of its FMCG business, which competes with major brands like Coca-Cola and PepsiCo.

Isha Ambani's Reliance Retail to raise nearly Rs 5,000 crore from Abu Dhabi's ADIA

IndianStartupNews

IndianStartupNews · 1y ago

Isha Ambani's Reliance Retail to raise nearly Rs 5,000 crore from Abu Dhabi's ADIA

Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries Limited, will receive an investment of approximately $597 million (Rs 4,966.80 crore) from Abu Dhabi Investment Authority (ADIA). The investment will convert into a 0.59% equity stake in RRVL. This follows Reliance Brands Limited's recent acquisition of Superdry's Asia assets and is part of Reliance Retail's strategy to transform the Indian retail sector. ADIA's investment is a testament to their belief in the Indian economy and Reliance Retail's growth potential.

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