Reliance Industries on Thursday announced that it has received an investment worth Rs 5,550 crore from global investment firm KKR for 1.28 per cent stake in its Reliance Retail Ventures Limited.

“We hereby inform that Reliance Retail Ventures Limited, a subsidiary of the Company, today received the subscription amount of Rs 5,550 Crore from Alyssum Asia Holdings II Pte. Ltd. (KKR) and allotted 81,348,479 equity shares to KKR,” Reliance Industries said in a regulatory filing on Thursday.

Earlier, on September 23, Reliance Industries had announced that KKR will make the investment in its subsidiary Reliance Retail Ventures Ltd (RRVL) to buy 1.28 per cent equity stake.

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 was the second investment by KKR in Reliance Industries’ units. It had previously picked up a 2.32 per cent stake in the digital arm, Jio Platforms, for Rs 11,367 crore.

After monetising Jio Platforms — which houses the firm’s telecom arm and digital ventures, billionaire Mukesh Ambani is roping in investors in the retail business.

All the 13 investors, who had poured in a combined Rs 1.52 lakh crore in Jio Platforms, have been offered a chance to explore investing in the retail unit. Besides KKR, the other investors in Jio Platforms include Silver Lake, Facebook, Google, private equity groups Vista and General Atlantic and Abu Dhabi’s sovereign wealth fund Mubadala.

Reliance Retail Limited, a subsidiary of RRVL, operates India’s largest, fastest-growing and most profitable retail business spanning supermarkets, consumer electronics chain stores, cash and carry wholesale business, fast-fashion outlets, and online grocery store JioMart. It operates almost 12,000 stores in nearly 7,000 towns.