Reliance Industries Search and Database has just taken over the Justdial. Reliance Industries has announced that it will acquire a controlling stake in Just Dial for Rs 3,497 crore through its retail arm Reliance Retail Ventures Limited (RRVL). The company, owned by Mukesh Ambani, has a 40.95 percent stake and has been open to acquisition of up to 26 percent in accordance with the terms of the acquisition.
Yes, Reliance Industries has now spied on the search database Justdial. Reliance Industries currently holds a 40.95% stake in Just Dial. Reliance Retail said in a statement that VSS Mani Shawl will continue as the Managing Director and Chief Executive of JustDial. So why not invest in Reliance Industry in JustDial?
JustDial is a popular search and database company. JustDial is already popular for searching locations and providing customers with the necessary database. Reliance Jio has revolutionized the telecom sector. Now, just taking the Just Dial will enable Jio’s dominance to expand into more sectors. Also, Read This: Best Hosting for Beginners.
Commenting on the transaction, RRVL Director Isha Ambani said, “Investment in Just Dial underscores our commitment to new commerce by further enhancing the digital ecosystem for our millions of partner merchants, micro, small and medium enterprises.
The company said the “RRVL-funded portfolio will help drive the growth and expansion of Just Dial to a comprehensive local listing and commerce platform.” It controls, it said.