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    JUSTDIAL   INE599M01018

JUST DIAL LIMITED

(JUSTDIAL)
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India's Reliance Retail to buy Just Dial for $469 million

07/16/2021 | 11:33am EDT

MUMBAI (Reuters) - Oil-to-telecoms conglomerate Reliance Industries's retail arm is buying a nearly 41% stake in search and database firm Just Dial Ltd for 34.97 billion rupees ($468.84 million), the companies said late on Friday.

Billionaire Mukesh Ambani-owned Reliance Retail will also make an open offer to public shareholders of Just Dial to acquire an additional 26%, according to regulatory requirements.

Reliance has been on an acquisition spree to ramp up its online retail offerings and, over the past three years, has bought British toy retailer Hamleys, music streaming service Saavn, online furniture retailer Urban Ladder and e-pharmacy Netmeds.

The deal with Just Dial, subject to shareholder and other approvals, will help Reliance get access to the company's massive merchant database that spans across the country.

The deal will boost "the digital ecosystem for millions of our partner merchants, micro, small and medium enterprises," Isha Ambani, a director at Reliance Retail, said in the statement.

Just Dial has a database of about 30.4 million listings as on 31 March 2021 and gets consumer traffic of about 129.1 million unique users each quarter.

The capital infusion from the deal will help Just Dial expand discovery on its platform and boost transactions for millions of its products and services.

Just Dial's Managing Director VSS Mani will continue to lead the company, the statement said.

($1 = 74.5890 Indian rupees)

(Reporting by Abhirup Roy and Sankalp Phartiyal, editing by Louise Heavens)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
JUST DIAL LIMITED -0.32% 986.3 Delayed Quote.56.31%
LONDON BRENT OIL 0.82% 79.48 Delayed Quote.49.38%
RELIANCE INDUSTRIES LTD 1.68% 2524.45 Delayed Quote.25.05%
WTI 0.81% 75.41 Delayed Quote.52.07%
All news about JUST DIAL LIMITED
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09/03JUST DIAL : Reliance retail ventures limited acquires sole control of just dial limited
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09/02RELIANCE INDUSTRIES : Retail Takes Sole Control of JustDial as 41% Stake Acquisition Compl..
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09/02Just Dial Limited Announces Board Changes
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09/01Just Dial Appoints Abhishek Roy as the Head of PR
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07/23JUST DIAL : India's Reliance revenue rises 58% as oil and gas business recovers
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07/20JUST DIAL : Nomura Downgrades Just Dial to Reduce From Buy, Keeps Price Target at 820 Indi..
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07/20Reliance Retail Ventures Limited completed the acquisition of 15.62% stake in Just Dial..
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07/19CORRECTION : Just Dial Swings to Loss in Fiscal Q1
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More news
Analyst Recommendations on JUST DIAL LIMITED
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Financials
Sales 2022 7 572 M 103 M 103 M
Net income 2022 1 677 M 22,7 M 22,7 M
Net cash 2022 26 780 M 363 M 363 M
P/E ratio 2022 43,0x
Yield 2022 0,37%
Capitalization 82 664 M 1 120 M 1 119 M
EV / Sales 2022 7,38x
EV / Sales 2023 4,99x
Nbr of Employees 11 162
Free-Float 50,0%
Chart JUST DIAL LIMITED
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Just Dial Limited Technical Analysis Chart | JUSTDIAL | INE599M01018 | MarketScreener
Technical analysis trends JUST DIAL LIMITED
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 14
Last Close Price 989,45 INR
Average target price 1 034,64 INR
Spread / Average Target 4,57%
EPS Revisions
Managers and Directors
Venkatachalam Sthanu Mani Chief Executive Officer, MD & Executive Director
Abhishek Bansal Chief Financial Officer & Executive Director
Anand Balasundaram Non-Executive Chairman
Manan Udani Secretary & Compliance Officer
Sanjay Bahadur Independent Non-Executive Director
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