JustDial to be acquired soon by Reliance for $800-900mn dollars

As per the latest news, Reliance Industries is in talks to acquire the leader in local business listings platform JustDial. The deal is estimated to be worth around $800-900 million (Rs 6,600 crore).

 

It’s an endless list for the telcom giant when it comes to acquisitions. Yet another probable acquisition by Reliance is Justdial wherein the prior could hold up to 60 percent share in JustDial as it looks to amplify its presence in the MSME and local commerce segment. The deal among the two major companies is yet to be announced.

The current valuation of JustDial is approximately Rs 2,388 crore, and could see its valuation accelerate by double or triple the current rate at the time of the deal. The official announcement is expected to come forth after the meeting between the two giants.

Reliance could probably end up owning around to 60 percent of JustDial post the deal.

Earlier the local business listings platform Justdial was also in talks for a strategic alliance with Tata Digital, however the deal didn’t close and ended on an abrupt note.

The proposed deal by Reliance, if works well for the latter, it would amplify local commerce operations across the country and give the prior a commanding position in the market.

According to the information provided on the website “JustDial’s value-added offerings of huge online visibility, payment solutions, customised website, mobile site and mobile app; all packaged together, make it an attractive value proposition for MSMEs, several of whom have continuous associations.

The local listing platform earlier in February, launched its B2B marketplace platform, named JD Mart which aims at enabling millions of India’s manufacturers, distributors, wholesalers, retailers to go digital in the post-COVID era and attract & acquire potential customers through online medium.

In its statement, JustDial said that “The platform offers digital product catalogues to businesses, especially MSMEs, across categories. Buyers can discover quality vendors offering a wide selection of products to choose from, spread across millions of categories to suit all B2B needs.

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