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India's Reliance says KKR to invest $755.1 mln in retail arm

BENGALURU, Sept 23 (Reuters) - U.S. private equity firm KKR & Co Inc will invest 55.50 billion rupees ($755.09 million) in Reliance Industries Ltd’s retail arm, giving the unit a pre-money valuation of 4.21 trillion rupees, the Indian conglomerate said on Wednesday.

KKR's investment will translate to a 1.28% stake in Retail Ventures Ltd, according to Reliance. (reut.rs/3hWbyAc) ($1 = 73.5010 Indian rupees) (Reporting by Philip George in Bengaluru; Editing by Shounak Dasgupta)

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