Simpson Thacher is representing KKR in connection with its ₹ 2,069.50 crore (~$250m) follow-on investment into Reliance Retail Ventures Limited (“RRVL”), a subsidiary of Reliance Industries. This investment values RRVL at a pre-money equity value of ₹ 8.361 lakh crore (~$100b), which makes it among the top four companies by equity value in India. The Firm also represented KKR in its original investment of ₹ 5,550 crore (~$750m at that time) into RRVL in 2020.~~RRVL, through its subsidiaries and associates, operates India's largest, fastest growing, and most profitable retail business serving 267 million loyalty customers with an integrated omni-channel network of over 18,500 stores and digital commerce platforms across grocery, consumer electronics, fashion & lifestyle, and pharma consumption baskets.~~KKR’s investment comes primarily from its Asian Fund IV. The transaction is subject to regulatory and other customary approvals.

The Simpson Thacher team included Ian Ho and Shirley Foo (M&A); and Étienne Renaudeau and Pauline Patat (Antitrust).