In the digital world, Mukesh Ambani is a man in a hurry, hoping to catch up with the biggies. To that end, he is going to flog the Just Dial horse.
To call it an unusual deal would be an understatement.
When Reliance Retail Ventures Ltd, part of Mukesh Ambani’s Reliance Industries Ltd, announced last week that it would pay as much as Rs 3,497 crore to buy a 40.95% stake in Just Dial, a company that makes nearly all its money by listing small businesses on its website, there were two things about the deal that didn’t add up.
1. Just Dial appeared to be a company that didn’t have much of a future, as much of the information on its website was increasingly available for free on the internet. …
Surendar helps lead the newsroom at The Morning Context as executive editor. Over the years, Surendar has worked in industries from pharmaceuticals to diamonds, as well as a stint as an equity analyst. In his long career as a business journalist, he has led teams at The Times of India, India Today and Fortune India. He was part of the founding team at Forbes India and interned at and published in The Times, London.
Executive Editor
surendar@mailtmc.com
Mumbai