Reliance Retail Ventures Limited (RRVL) has announced the acquisition of Just Dial Ltd, the country’s wealthiest businessman, Mukesh Ambani. The company is worth Rs 3,497 crore for a 40.95 per cent stake in Just Dial. In addition, the company will offer an open offering of 26 per cent equity. In this manner, Reliance Retail’s total stake in Just Dial will be 66.95 per cent.
Just Dial Expansion: The investment that RRVL provides will go towards the growth and expansion of Just Dial. Just Dial further strengthens its list of local businesses. Just Dial works on expanding millions of products and services across its platform, thereby promoting transactions. This investment also supports Just Dial’s existing database. As of March 31, 2021, Just Dial had 30.4 million listings in its database and 129.1 million unique users were using the Just Dial platform in the quarter.
In one year, this company changed the fate of investors, one lakh to more than Rs 7 lakh
Commenting on the deal, RRVL Director Isha Ambani said, “Investment in Just Dial will further enhance the digital ecosystem for our millions of partner merchants, small and medium businesses. However, despite this acquisition, VSS continues to be the CEO of Mani, MD, Just Dial and Will.