Indian conglomerate "Reliance Industries" has acquired technology company "Just Dial"

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On July 16, the retail department of Reliance Industries, an Indian conglomerate engaged in oil and retail business, announced that it took a 41% of stocks in Just Dial, the country's technology company for 34.97 billion rupee (about 51.6 billion yen). They also expect to acquire an additional 26% of stocks through the open offer. As of March 31, 2021, Just Dial has a database of approximately 30.4 million items, and provides local search and online shopping services. The acquisition is expected to have the effect of accelerating the construction of a digital ecosystem for partner SMEs (small and medium enterprises) for Reliance Industries.

Source: Hindustan Times "Ambani's Reliance Retail to Buy Just Dial for $469 million"(July 16, 2021) 

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