Reliance Retail Ventures Ltd (RRVL) acquires a controlling stake in Justdial for Rs 5,719 cr
RRVL will buy 25.33 per cent via a preferential allotment at Rs 1,022.25 per share
Will take another 15.62 per cent from Justdial founder VVS Mani at Rs 1,020 per share
It will further make an open offer of 26 per cent as per Sebi rules, considering at Rs 2,222 Cr
Mani will remain as Managing Director and Chief Executive of Justdial
Justdial is a 25-year-old search engine platform
RRVL is India’s largest retailer that is on an expansion spree
The current acquisition will help RRVL expand its merchant database
