Reliance Retail announced that the company has acquired the sole control of Just Dial- Indian internet technology. In July, the Reliance retail ventures announced the deal to buy the controlling stakes of Just dial at Rs 3,497 crores.
On July 20, 2021, RRVL acquired 1.31 crore equity shares of Rs 10 each of Just Dial at a price of Rs 1,020 per equity share from VSS Mani, founder and chief executive of Just Dial, in a block deal.
“The acquisition represents 15.63 per cent of the post-preferential issue paid-up equity share capital of Just Dial,” the statement added. Currently, RRVL holds 40.90 % in Just Dial.
In August, Reliance acquired a 60 % stake in Netmeds’ parent firm Vitalic for Rs 620 crore.
In November last year, the company also acquired online furniture startup Urban Ladder for Rs 182.12 crore in a distress sale.