Reliance Retail buys Just Dial

Reliance Retail  buys Just Dial

Reliance Retail Ventures (RRVL), a subsidiary of Reliance Industries, on Friday announced the acquisition of 40.95% stake in Just Dial for Rs 3,497 crore.

New Delhi, July 16

Reliance Retail Ventures (RRVL), a subsidiary of Reliance Industries, on Friday announced the acquisition of 40.95% stake in Just Dial for Rs 3,497 crore.

It will make an open offer to acquire additional up to 2.17 crore equity shares of Just Dial, representing 26% stake, in accordance with SEBI Takeover Regulations, a regulatory filing said. VSS Mani will continue as MD and CEO of Just Dial through the next phase of growth, it added.

The capital infused will help drive the growth and expansion of Just Dial into a comprehensive local listing and commerce platform. — PTI

Rs3,497-crore deal

  • As of now, Reliance Retail has acquired 40.95% stake in Just Dial for Rs3,497 crore
  • The company will make an open offer to acquire additional 26% stake in accordance with SEBI Takeover Regulations, a regulatory filing said

Top Stories

Tokyo Olympics: Wrestler Ravi Dahiya settles for silver after losing final to world champion Uguev

Tokyo Olympics: Wrestler Ravi Dahiya settles for silver after losing final to world champion Uguev

Dahiya had lost to Uguev at the 2019 World Championship also

A real 'Chak De' moment for Indian hockey: Men's team wins Olympic medal after 41 years

A real 'Chak De' moment for Indian hockey: Men's team wins Olympic medal after 41 years

Simranjeet Singh (17th, 34th minutes) scored a brace, while ...

Punjab announces Rs 1 crore each for men’s hockey team players from state

Punjab announces Rs 1 crore each for men’s hockey team players from state

SGPC to award Rs 5 lakh to participants from Punjab, Rs 1 cr...

Hockey captain Manpreet Singh thanks Odisha CM Naveen Patnaik for his support

Hockey captain Manpreet Singh thanks Odisha CM Naveen Patnaik for his support

Patnaik dials members of Olympic medal-winning men's hockey ...

Cities

View All