RIL shares closed at Rs 2,229.55 apiece on the BSE, up 0.83 per cent over the previous day's close.
For KKR, this will be the second investment in an RIL subsidiary, after the PE's firm Rs 11,367-crore fund infusion into Jio Platforms earlier this year.
Reliance Retail had given the option to investors in Jio Platforms to consider backing the former as it sought to unlock value.
Investors such as Abu Dhabi Investment Authority and Mubadala could be next in line, though a Reliance spokesperson said it could not comment on market speculation.
"As a policy we do not comment on media speculation and rumours. Our company evaluates various opportunities on an ongoing basis. We have made and will continue to make necessary disclosures in compliance with our obligations under Sebi and our agreements with the stock exchanges," the spokesperson said.
Along with Jio, retail contributes 35 per cent to RIL's consolidated earnings before interest tax depreciation and amortisation (Ebitda), Ambani had said at the firm's annual general meeting in July.
Reliance offloaded nearly 33 per cent in Jio Platforms to 14 investors for Rs 1.52 trillion between April and June, emerging as the only firm in the country to go in for a massive monetisation exercise at the height of the lockdown.
Ambani had indicated at the AGM that “global partners and investors” were also keen to invest in Reliance Retail and that they would be inducted into the company in the forthcoming quarters.
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