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