Reliance Retail Acquires Just Dial
With 40.95% preferential shares and 26% open offer, Reliance aims to acquire about 41% to 67% of Just Dial.
What Does This Mean?
The local search engine will be maintained as a separate entity. The prolific founder VSS Mani continues as its CEO.
How Will This Acquisition Impact Jio App and Jio Mart?
Access to Just Dial’s database of merchant listings/retailers and the potential to scale up the JD app and JD Mart Platforms will lead to expansion of the scope of services and offerings across B2B and B2C
Latest Portfolio Allocation With Reliance
As per the latest portfolio, 219 out of 427 equity-oriented funds have exposure to Reliance which makes a 51% of the universe. The top 10 holdings of most of the funds include Reliance Industries
How Will This Impact Your Wealth?
Successful integration of the two entities will lead to an increase in shareholder value and will have a positive impact on investors’ wealth.