News Update

Talks About JustDial Being Aquired By Reliance To Strengthen Local Commerce Operations

• BySheetal Sidhu     |    July 15, 2021

Reliance could hold up to 60 percent share in JustDial as it looks to ramp up its presence in the MSME and local commerce segment. The deal is likely to be announced on Friday.  The deal could be pegged at $800-900 million. JustDial is currently valued at approximately Rs 2,388 crore, and could see its valuation swell 2-3X at the time of the deal. It is likely to make a formal announcement after its board meeting in Mumbai on July 16. The latter’s stock was up three percent on the BSE on Thursday. Prior to this, JustDial’s share price had appreciated over 52 percent since the start of the year.Interestingly, the local business listings platform was also in talks for a strategic alliance with Tata Digital, which is on an acquisition spree lately. However, the discussions held in March were inconclusive.

JustDIal users have contributed 121.24 million reviews and ratings for various listings till date. While business owners have the option to list for free, the platform has seen over 4.57 lakh paid campaigns till date, according to information on its website.”JustDial’s value-added offerings of huge online visibility, payment solutions, customised website, mobile site and mobile app; all packaged together, make it an attractive value proposition for MSMEs, several of whom have continuous associations,” it stated. “The platform offers digital product catalogues to businesses, especially MSMEs, across categories. Buyers can discover quality vendors offering a wide selection of products to choose from, spread across millions of categories to suit all B2B needs,” JustDial said in a statement.

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