Reliance Retail Ventures Limited (RRVL) and Reliance Industries Limited (RIL) announced on Wednesday that the US-based global investment firm, KKR & Co. will be investing ₹5,550 crore into Reliance Industries’ subsidiary Reliance Retail. Having the investment values Reliance Retail at a pre-money equity price of ₹ 4.21 lakh crore as per the exchange filing of RIL on September 22. The investment accrues an equity stake of 1.28 percent in RRVL on a diluted basis.Marking a second investment in another of RIL’s subsidiaries after Jio Platforms earlier this year, the company’s chairman Mukesh Ambani said, ” KKR has a proven track record of being a valuable partner to industry-leading franchises and has been committed to India for many years. We look forward to working with KKR’s global platform, industry knowledge and operational expertise across our digital services and retail business.”KKR has made investments earlier in RIL’s digital business for 11,367 crore which till now has been its biggest in Asia. For RIL, this is the second deal finalised within two weeks. Earlier this month, the company received an agreement from another American equity giant, Silver Lake Partners for an investment of ₹7,500 crore and a 1.75 percent stake in its retail business. Morgan Stanley was the financial advisor to Reliance Retail and Deliotte Touche Tohmatsu India LLP acted as the financial advisor to KKR for this deal.. RIL’s investment spree is falls in line with its online expansion strategy on the likes of Walmart Inc’s Flipkart and Amazon.com Inc’s Indian arm.