Reliance Industries To Buy 83 Percent Stake In Grab For Rs 146 Crore

Reliance Industries has said that it will buy an 83 percent stake in Mumbai-based hyper-local logistics startup Grab a Grub Services for Rs 146 crore through a mix of fresh investment and buying shares from existing investors, according to a filing made to the stock exchanges.

“The investment will augment the group’s digital commerce initiatives and strengthen its logistics services,
catering to both B2B and B2C segments,” said the company. The acquisition is being made through RIL’s
subsidiary Reliance Industrial Investments and Holdings. TOI was the first to report about the deal in its February
28 edition.

Besides Grab, Reliance said it is also acquiring a 82 percent stake in Bengaluru-based C-Square Info Solutions, which
which provides software solutions with focus on the pharma sector, for Rs 82 crore. Some of the clients of the
company include Apollo Pharmacy and Adcock Ingram.

Both these acquisitions will help Reliance with new commerce push which is expected to be launched by telecom
arm Reliance Jio and Reliance Retail. RIL chief Mukesh Ambani had last year outlined the company’s online-tooffline (O2O) approach to build this business, leveraging the customer base of Jio and retail business besides
kirana stores.―Times Of India

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