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Reliance Industries Ltd. - Investment In Grab A Grub Services Private Limited

| Updated on March 02, 2019

Reliance Industrial Investments and Holdings Limited (RIIHL), a wholly-owned subsidiary of Reliance Industries Limited (RIL or the Company) has entered into an agreement for acquisition of equity shares of Grab A Grub Services Private Limited (Grab) for a cash consideration not exceeding INR 106,00,00,000/- (Indian Rupees One Hundred and Six Crore only). RIIHL will further invest an amount of up to INR 40,00,00,000/- (Indian Rupees Forty crore only) and is likely to be completed by March 2021.The total investment will translate into ~83% of equity capital in Grab on a fully diluted basis.

Grab is a logistics services platform company, incorporated on 29 October, 2014. It provides technology enabled, asset light logistics services for various verticals.

Grab had a Turnover of INR 28.39 crore, INR 15.89 crore and INR 7.22 crore, and Net Profit (Loss) of INR (752.27) lakh, INR (1,789.30) lakh and INR (860.66) lakh in FY 2018, FY 2017 and FY 2016 respectively.

The aforesaid investment will further augment the groups digital commerce initiatives and strengthen its logistics services, catering to both B2B and B2C segments.

No regulatory approvals are required for this investment. The investment does not fall within related party transactions and none of RILs promoter / promoter group / group companies have any interest in the transaction.

Pdf Link: Reliance Industries Ltd. - Investment In Grab A Grub Services Private Limited

Source : BSE - www.bseindia.com

Published on March 02, 2019

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