<p>Billionaire Mukesh Ambani-led Reliance Retail on Thursday said it has acquired sole control of 25-year-old search and discovery firm Just Dial.</p>.<p>The firm's subsidiary Reliance Retail Ventures Ltd had in July announced a deal to buy a controlling stake in Just Dial for Rs 3,497 crore.</p>.<p>Further to that announcement, "RRVL has now taken sole control of Just Dial Ltd in accordance with the SEBI Takeover Regulations with effect from September 1, 2021."</p>.<p><strong>Read more: <a href="https://www.deccanherald.com/business/future-reliance-deal-amazon-urges-sebi-to-direct-exchanges-to-withdraw-observation-letters-1025255.html" target="_blank">Future-Reliance deal: Amazon urges Sebi to direct exchanges to withdraw observation letters </a></strong></p>.<p>On July 20, 2021, RRVL acquired 1.31 crore equity shares of Rs 10 each of Just Dial at a price of Rs 1,020 per equity share from VSS Mani, founder and chief executive of Just Dial, in a block deal.</p>.<p>"The acquisition represents 15.63 per cent of the post-preferential issue paid-up equity share capital of Just Dial," the statement said.</p>.<p>On September 1, 2021, Just Dial, pursuant to the preferential issue, allotted 2.12 crore equity shares of Rs 10 each at a price of Rs 1,022.25 per equity share, representing 25.35 per cent of share capital, to RRVL.</p>.<p>Together, RRVL now holds 40.90 per cent in Just Dial.</p>.<p>Just Dial offers local search and e-commerce services through its website, mobile apps and telephone line. From local plumbers to hotels and housekeeping services can be inquired about by just dialling 8888888888.</p>.<p>RRVL will now make an open offer to buy a 26 per cent stake from other shareholders of Just Dial.</p>.<p>Just Dial's acquisition is one of many Reliance Industries or its subsidiaries including telecom giant Jio Platforms and RelianNce Retail have done in recent months.</p>.<p>In August, Reliance acquired a 60 per cent stake in the pharma marketplace Netmeds' parent firm Vitalic for Rs 620 crore. In November, it acquired online furniture startup Urban Ladder for Rs 182.12 crore in a distress sale.</p>.<p>Last year, Reliance Retail also entered into a Rs 24,713 crore deal to buy Future Group, India's second-largest retail chain. That deal is current stuck in courts with American e-commerce giant Amazon challenging it.</p>.<p>Just Dial had 30.4 million listings and 129.1 million quarterly unique users across web, mobile, App and voice platforms as of March 31, 2021.</p>.<p>The company has recently launched its B2B marketplace platform, JD Mart which is aimed at enabling millions of India's manufacturers, distributors, wholesalers, retailers to become internet-ready in the post-Covid era, get new customers and sell their products online. The platform offers digital product catalogs to businesses and aims at digitalizing India’s businesses, especially MSMEs, across categories. </p>
<p>Billionaire Mukesh Ambani-led Reliance Retail on Thursday said it has acquired sole control of 25-year-old search and discovery firm Just Dial.</p>.<p>The firm's subsidiary Reliance Retail Ventures Ltd had in July announced a deal to buy a controlling stake in Just Dial for Rs 3,497 crore.</p>.<p>Further to that announcement, "RRVL has now taken sole control of Just Dial Ltd in accordance with the SEBI Takeover Regulations with effect from September 1, 2021."</p>.<p><strong>Read more: <a href="https://www.deccanherald.com/business/future-reliance-deal-amazon-urges-sebi-to-direct-exchanges-to-withdraw-observation-letters-1025255.html" target="_blank">Future-Reliance deal: Amazon urges Sebi to direct exchanges to withdraw observation letters </a></strong></p>.<p>On July 20, 2021, RRVL acquired 1.31 crore equity shares of Rs 10 each of Just Dial at a price of Rs 1,020 per equity share from VSS Mani, founder and chief executive of Just Dial, in a block deal.</p>.<p>"The acquisition represents 15.63 per cent of the post-preferential issue paid-up equity share capital of Just Dial," the statement said.</p>.<p>On September 1, 2021, Just Dial, pursuant to the preferential issue, allotted 2.12 crore equity shares of Rs 10 each at a price of Rs 1,022.25 per equity share, representing 25.35 per cent of share capital, to RRVL.</p>.<p>Together, RRVL now holds 40.90 per cent in Just Dial.</p>.<p>Just Dial offers local search and e-commerce services through its website, mobile apps and telephone line. From local plumbers to hotels and housekeeping services can be inquired about by just dialling 8888888888.</p>.<p>RRVL will now make an open offer to buy a 26 per cent stake from other shareholders of Just Dial.</p>.<p>Just Dial's acquisition is one of many Reliance Industries or its subsidiaries including telecom giant Jio Platforms and RelianNce Retail have done in recent months.</p>.<p>In August, Reliance acquired a 60 per cent stake in the pharma marketplace Netmeds' parent firm Vitalic for Rs 620 crore. In November, it acquired online furniture startup Urban Ladder for Rs 182.12 crore in a distress sale.</p>.<p>Last year, Reliance Retail also entered into a Rs 24,713 crore deal to buy Future Group, India's second-largest retail chain. That deal is current stuck in courts with American e-commerce giant Amazon challenging it.</p>.<p>Just Dial had 30.4 million listings and 129.1 million quarterly unique users across web, mobile, App and voice platforms as of March 31, 2021.</p>.<p>The company has recently launched its B2B marketplace platform, JD Mart which is aimed at enabling millions of India's manufacturers, distributors, wholesalers, retailers to become internet-ready in the post-Covid era, get new customers and sell their products online. The platform offers digital product catalogs to businesses and aims at digitalizing India’s businesses, especially MSMEs, across categories. </p>