Reliance Retail Ventures Limited made an offer to acquire a 26% stake in Just Dial Limited (NSEI:JUSTDIAL) for INR 22.2 billion on July 16, 2021. Under the term, Reliance Retail Ventures Limited will acquire 21.74 million shares of Just Dial at INR 1,022.25 per share. In related transactions, Reliance Retail Ventures Limited entered into an agreement to acquire a 15.62% stake of Just Dial from Venkatachalam Sthanu Subramani for INR 13.32 billion and Reliance Retail Ventures Limited entered into a subscription agreement to subscribe 21,177,636 new shares of Just Dial Limited on July 16, 2021. The sources of funds for Reliance Retail Ventures Limited are available cash and cash equivalents and its liquid securities. Reliance Retail Ventures Limited has made firm financial arrangements for fulfilling the payment obligations under this Offer. VSS Mani will continue as managing director and chief executive officer of Just Dial. The offer is not subject to any minimum level of acceptance. There are no statutory or other approvals required to complete the Open Offer. Offer will open on September 13, 2021 and will close on September 24, 2021. The settlement date is expected to be on October 22, 2021. The offer is expected to be completed by October 6, 2021. Prachee Dhuri of JM Financial Limited (BSE:523405) acted as a manager and financial advisor, Morgan Stanley (NYSE:MS) acted as a financial advisor, Shardul Amarchand Mangaldas & Co and Sudhir Bassi and Abhishek Dadoo of Khaitan & Co. acted as a legal advisor, Deloitte Consulting Ltd. acted as an accountant to Reliance Retail Ventures Limited. Ernst & Young LLP acted as an accountant and due diligence provider, The Goldman Sachs Group, Inc. (NYSE:GS) acted as a financial advisor and Cyril Amarchand Mangaldas acted as a legal advisor to Just Dial. M. Murali Krishna of KFin Technologies Private Limited acted as registrar and Fizza Abbas Rizvi of HDFC Securities Limited acted as transfer agent to Reliance Retail Ventures Limited. BDO India LLP acted as independent experts to IDC members and stated the offer price to be fair and reasonable. Reliance Retail Ventures Limited completed the acquisition of 26% stake in Just Dial Limited (NSEI:JUSTDIAL) on October 6, 2021. As of October 12, 2021, the revised settlement date is October 14, 2021.