Reliance Industries to buy 83% stake in Grab for Rs 146 cr

Bengaluru, Mar 4: Reliance Industries has said that it will buy a 83% stake in Mumbai-based hyper-local logistics startup Grab a Grub Services for Rs 146 crore through a mix of fresh investment and buying shares from existing investors, according to a filing made to the stock exchanges.
“The investment will augment the group’s digital commerce initiatives and strengthen its logistics services, catering to both B2B and B2C segments,” said the company. The acquisition is being made through RIL’s subsidiary Reliance Industrial Investments and Holdings.