Just Dial - Reliance Retail Deal, Digital Trends Key Positives: ICICI Direct
Just Dial signage at company’s offices in Mumbai. (Photographer: Shruti Menon/BloombergQuint)

Just Dial - Reliance Retail Deal, Digital Trends Key Positives: ICICI Direct

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Direct Report

Reliance Retail Ventures Ltd. has announced acquisition of controlling stake in Just Dial Ltd. for a total consideration of Rs 3,497 crore.

Reliance Retail will hold 40.95% stake in the company and make an open offer of 26% stake.

Reliance Retail will get 25.33% stake in the company via preferential allotment of 2.12 crore shares at a price of Rs 1,022.25 per share.

The capital infused by Reliance Ventures will help Just Dial to improve its JD Mart’s content, help in developing end to end capability (by building tech, logistics, payments, etc.), leadership team to monetise and develop better content.

Apart from JD Mart, Just Dial’s focus also includes its JD business-to-consumer app and JD Omni.

Click on the attachment to read the full report:

ICICI Direct Just Dial Company Update.pdf

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