Billionaire Mukesh Ambani-owned Reliance Industries (RIL) is in advanced talks to buy digital directory service firm Just Dial for $800-900 million (Rs 5,900 crore to Rs 6,700 crore approximately), according to a report by The Economic Times.
The deal, if finalised, will give RIL access to the 25-year-old listings company’s merchant database.
DH couldn't independently confirm the report.
However, Just Dial refrained from confirming any ongoing negotiations, adding that it complies with the disclosure obligations under the Sebi.
"We do not comment on media speculation and as and when any proposals are considered by the Board that warrant disclosures, the company complies with the disclosure obligations under the Sebi (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('Sebi Listing Regulations'). We have made and will continue to make necessary disclosures in compliance with our obligations under the Sebi Listing Regulations and our agreements with the Stock Exchanges," the firm said in a statement.
($1 = Rs 74.57)