Reliance acquires 40.95 per cent stake in Just Dial for Rs 3,497 cr

RRVL will make an open offer to acquire additional up to 2.17 crore equity shares of Just Dial, representing 26 per cent stake, in accordance with Sebi Takeover Regulations, a regulatory filing said. VSS Mani will continue as Managing Director and Chief Executive Officer of Just Dial through the next phase of growth, it added.

“Our vision has evolved to not only provide search and discovery but drive commerce across merchants through our B2B platform and enable further consumer to merchant commerce given our platform engagement. Our strategic partnership with Reliance enables us to realise this vision and transform the business going forward,” Mani said in a release. The capital infused by RRVL will help drive the growth and expansion of Just Dial into a comprehensive local listing and commerce platform.

“The capital infused by RRVL will help drive the growth and expansion of Just Dial into a comprehensive local listing and commerce platform. Just Dial would expand discovery on its platform and enhance transactions for millions of products and services,” the press release added. RRVL Director Isha Ambani mentioned that the deal with Just Dial “underlines our commitment to New Commerce by further boosting the digital ecosystem for millions of our partner merchants, micro, small and medium enterprises.”