Team Blitz India
NEW DELHI: Abu Dhabi Investment Authority (ADIA) and KKR have invested in Reliance Retail Ventures Ltd’s warehousing in a deal pegged at Rs 12,864 crore ($1.5 billion), said people aware of the development. This is outside of the infrastructure investment trust (InvIT) that Relaince Retail Ventures Ltd (RRVL set up last year to house about half its retail warehousing assets, they said.
In March, RRVL had transferred 11-12 million sq feet of warehousing assets to Reliance Logistics and Warehouse Holdings (RLWH), which was incorporated in December 2022. KKR and ADIA invested the $1.5 billion, split equally, in this company. The transaction hasn’t yet been formally announced.
The purchase was funded by way of senior debt of Rs 7,075 crore, instruments similar to equity such as subordinated non-convertible debentures (NCDs) of Rs 5,275 crore and the remainder through equity infusion, said the people cited.
