Reliance Retail to acquire 40.95% stake in Just Dial for Rs 3,497 crore

Reliance Retail Ventures Ltd has said it will acquire 40.95 per cent stake in Just Dial for Rs 3,497 crore. The investment is part of the telecom to petrochemicals conglomerate’s digital bet.

Reliance Retail Ventures Ltd (RRVL) on Friday said it will acquire 40.95 per cent stake in Just Dial for Rs 3,497 crore, bolstering its digital play in the rapidly growing online commerce market in India. Reliance’s investment in Just Dial, a 25-year old information search and listing company, is part of the telecom to petrochemicals conglomerate’s digital bet. Over the past many quarters, Reliance has announced a number of investments in companies like Netmeds, Urban Ladder and others.