Reliance in advance negotiations to buy Justdial

Reliance Industries is in advance negotiations to buy Just Dial (JD) from its founding promoters in a USD 800-900 million transaction, said numerous sources aware. As indicated by media reports, the transformation, once effective, will help, Reliance Retail leverage the merchant database of the 25-year old data search and listings organization just as its container India organization, to further accelerte its own local commerce and payments play.

Justdial is a neighborhood search engine segment that has almost 150 million normal quarterly interesting guests across different platforms like mobile, applications, website and 8888888888 phone hotline. The organization called for a board meeting on Friday July 16 to “evaluate” fundraising proposals. A formal announcement is expected on that day.

Reliance is intending to purchase mostly from overseeing chief VSS Mani and family, who control 35.5 percent of the organization which right now is valued at ₹2387.9 crore, state media reports.