The retail arm of Reliance Industries Limited (RIL), Reliance Retail Ventures Limited (RRVL) will acquire majority stakes of 66.95% in B2B search engine Just Dial. The managing director and CEO continue to be the founder VSS Mani. As per the agreement RRVL holds 40.95% stakes. The capital invested by RRVL will help in the growth of Just Dial and expand into a comprehensive local listing and commerce platform. The expansion of the platform would result in the enhancement of transactions for millions of products and services. Isha Ambani, director of RRVL said that the deal with Just Dial will boost the digital ecosystem of millions of partner merchants including micro, small & medium enterprises. Mani says the partnership with Reliance will further enable a consumer to merchant commerce through our platform engagement.
Source: Money Control