A Fortune 500 company and the largest private sector corporation in India, Reliance Industries Limited is in negotiations to buy Justdial from its founding promoters for $800-900 million, which will enable the former to access the 25-year-old listings company’s merchant database. On July 16, the listings company has called for a board meeting.
The main aim of Reliance is to buy partially from Justdial’s Managing Director VSS Mani and present an open offer for additional 26 percent of the company’s equity. If the open offer is fully subscribed to, then Reliance is supposed to own over 60 percent stake while Mani will serve as a Junior Partner. Also, Reliance is envisaged to invest capital into the listings company. Both Reliance and Justdial have been engaged in discussions since April of 2021.
Earlier reports stated that Justdial was involved in talks with Tata Sons for an investment opportunity in Tata Digital’s super app, which faded away later.
Reliance’s motto “Growth is Life” aligns perfectly with the ever-evolving spirit of its employees. From just a textiles and polyester company, Reliance has evolved into an integrated player across energy, materials, retail, entertainment, and digital services. In fact, the company holds great commitment to innovation-led, exponential growth. Reliance’s products and services portfolio has impacted almost all Indians on a daily basis, across economic and social spectrums.
Just Dial Limited is India’s No. 1 Local Search engine that offers local search-related services to users across India through multiple platforms such as website, mobile website, Apps (Android, iOS, Windows), over the telephone (voice, pan India number 8888888888) and text (SMS). Justdial has also initiated ‘Search Plus’ services for its users, which aim at making several day-to-day tasks conveniently actionable and accessible to users through one application.