Reliance Retail to acquire 40.95% stake in Just Dial for Rs 3,497 crore
Reliance Retail to acquire 40.95% stake in Just Dial for Rs 3,497 crore
Reliance Retail Ventures Ltd has said it will acquire 40.95 per cent stake in Just Dial for Rs 3,497 crore. The investment is part of the telecom to petrochemicals conglomerate’s digital bet.
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UPDATED: July 17, 2021 07:23 IST
The retail arm of Reliance will make a public announcement for an open offer for acquiring up to 2.17 crore equity shares of Just Dial. (Photo: Reuters)
Reliance Retail Ventures Ltd (RRVL) on Friday said it will acquire 40.95 per cent stake in Just Dial for Rs 3,497 crore, bolstering its digital play in the rapidly growing online commerce market in India.
Reliance acquires 40 95 per cent stake in Just Dial for Rs 3,497 crore
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SIAC concludes hearing over Amazon-Future dispute
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The Singapore International Arbitration Centre (SIAC) is geared for a final hearing over a plea filed by Amazon against the Rs 24,713 crore deal between Future Group and Reliance Industries from July 2.
A tribunal was constituted, as per a regulatory filing by Future Consumer Ltd (FCL) on Saturday, by SIAC for arbitration proceedings related to the Future-RIL deal on January 5, 2021. The filing noted that Future Retail Ltd has filed two applications before the Tribunal, first being an application challenging their jurisdiction of the Tribunal, and second being an application for vacation of the Emergency Arbitrator Order.
The March quarter 2021 earnings filing by FCL said that as per the schedule finalized by the Tribunal, hearing for both the applications would commence on July 12, 2021. In August 2020, Reliance Retail Ventures Ltd had said it will acquire the retail and wholesale business, and the logistics and warehousing business of Future Group for Rs 24,713 crore. The scheme
SIAC to start hearing over Amazon-Future dispute from July 2
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