Shardul Amarchand Mangaldas has advised KKR & Co on its $250 million follow-on investment in Reliance Retail Ventures, which was represented by Cyril Amarchand Mangaldas.

The transaction involved the subscription of 17,158,752 equity shares of Reliance Retail for a consideration of $250 million among Reliance Industries Limited, Reliance Retail and KKR. With this investment, KKR’s shareholding in Reliance Retail has increased to approximately 1.42%.

The SAM team was led by regional practice head for M&A and private equity, Raghubir Menon, and included transactional partners Natashaa Shroff, Sakshi Mehra, Shiladitya Banerjee and Deepa Rekha. The competition aspects of the deal were handled for KKR by partner Harman Singh Sandhu.

The CAM team was led by partner Shishir Vayttaden. CAM also recently advised Reliance Retail on Qatar Investment Authority’s $1 billion investment into the company in August.

Simpson, Thacher and Bartlett and Davis Polk & Wardwell acted as international legal advisors to KKR and the Reliance companies, respectively.

Led by Mukesh Ambani’s daughter, Isha Ambani, Reliance Retail raised nearly $5.72 billion in 2020 with investors including KKR, General Atlantic, the Saudi Public Investment Fund, and two UAE sovereign investment funds.

Reliance Retail was recently guided by Khaitan and Co on its acquisition of majority stake in Eternalia Media Private Limited, which owns actor Alia Bhatt’s clothing brand “Ed-A-Mamma.”