Mukesh Ambani’s telecom to petrochemicals conglomerate, Reliance Industries retail arm, Reliance Retail Ventures Ltd (RRVL), is acquiring a majority stake of 66.95% in local search company Just Dial for ₹3,497 crore.
Reliance Retail will hold 40.95% stake in the company as per the definitive agreements on 16 July, as per a statement issued by Reliance Retail, and would make an open offer to acquire upto 26% in accordance with takeover regulations set by market regulator SEBI.
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