KKR is doubling down on its bet in Reliance Retail, valuing India’s largest retail chain at $100 billion in a fresh $250 million investment. The deal follows the Qatar Investment Authority investing $1 billion in Mukesh Ambani’s retail empire just last month. The New York-headquartered private equity firm KKR invested about $755 million in Reliance Retail in 2020, when the Indian firm was valued at about $62 billion. Reliance Retail, part of conglomerate Reliance Industries, operates 18,500 stores and digital commerce platforms in India, selling everything from electronics to fashion and pharma. The investment comes at a time when Reliance...