Reliance Retail Ventures (RRVL), a subsidiary of Reliance Industries, will receive a US$250 investment from global investment firm KKR, making it among the top four companies by equity value in India.

Along with its $669 million investment in 2020, KKR will raise its total equity stake in RRVL to 1.42 per cent on a fully diluted basis.

Founded in 1976, KKR has approximately $519 billion in assets under management as of June 30.

“We highly value our deepening partnership with KKR, and their latest investment in RRVL after their previous investment further reinforces their strong belief in RRVL’s vision and capabilities,” said Isha Mukesh Ambani, director of Reliance Retail Ventures.

The company will benefit from KKR’s global platform, industry knowledge and operational expertise to continue driving the transformation of the Indian retail sector, Ambani added.

RRVL operates a retail business serving 267 million customers with an omnichannel network of over 18,500 stores and digital commerce platforms across grocery, consumer electronics, fashion, and pharmaceuticals.

The company reported a consolidated turnover of $31.7 billion and a net profit of $1.1 billion for the year ended March 31.