Reliance rings up Just Dial in Rs 3,497-cr deal

Reliance Retail will be acquiring a controlling stake in Just Dial for Rs 3,497 crore. Reliance Retail will buy 40.95 per cent stake from Just Dial and make an open offer to acquire up to 26 per cent in accordance with the takeover regulations. V S S Mani will continue as MD and CEO to lead Just Dial through the next phase of growth, Reliance has said in a stock exchange filing. “The investment in Just Dial underlines our commitment to new commerce by further boosting the digital ecosystem for millions of our partners,” Reliance Retail Director Isha Ambani has said.