Reliance to acquire Grab A Grub, C-Square to expand e-commerce, logistics services

Mumbai: Reliance Industries has entered into agreements to acquire logistics services platform Grab A Grub in a bid to augment the group’s digital commerce initiatives and strengthen its logistics services.
The Mukesh Ambani-owned group said its wholly-owned subsidiary Reliance Industrial Investments and Holdings Ltd (RIIHL) has entered into an agreement for the acquisition of equity shares of Grab A Grub Services Private Ltd for a cash consideration not exceeding Rs 106 crore.
“RIIHL will further invest an amount of up to Rs 40 crore and is likely to be completed by March 2021. The total investment will translate into 83 per cent of equity capital in Grab on a fully diluted basis,” RIL informed stock exchanges.
Logistics services platform Grab was incorporated on October 24, 2014. It provides technology-enabled asset-light logistics services for various verticals.
“The aforesaid investment will further augment the group’s digital commerce initiatives and strengthen its logistics services, catering to both B2B and B2C segments,” RIL said, adding that no regulatory approvals are required for this investment.
In a separate filing, RIL said RIIHL has entered into an agreement for the acquisition of equity shares of C-Square Info Solutions Private Limited for a cash consideration not exceeding around Rs 22.04 crore.