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16th July 2021,Mumbai:
Reliance Retail buys controlling stake in 25-year-old 'Just Dial' search engine platform.
This foray helps Reliance decent into 'Local Search & Discovery Services Space' with the objective of sharpening its e-commerce play.
Reliance is the largest/ biggest retailer in the Indian market & is shaping its portfolio through spate of acquisitions (M&A), aggressive store expansion & openings.
The bigger underlying overarching strategy is to deepen its omni-channel capabilities by consistently building muscular power in the given landscape.
RIL M&A in recent times: Netmeds, Hamleys, Urban Ladder, Zivame
How it goes
Reliance Retail will acquire 25.33% stake via preferential allotment at Rs 1,022.25 a share, another 15.62% from Just Dial founder V S S Mani. It will later make an open offer for 26% as per Sebi rules
What value 'Just Dial' brings on the table
30 million listings of enterprises across Web, App & Voice platforms
Way forward
JD Founder, Mani to continue as CEO leading it thru next phase of growth.
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The deeper issue optically is thus,"Reliance gets ready & instant 'Access to Just Dials-Database of MSMEs' thereby integrating it with 'Jio Mart' & semblance is this pathway will help it to strengthen e-commerce business & create unfair competitive edge.
Watch: https://www.youtube.com/watch?v=rCLbzVnEg28
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