RIL arm to acquire stake in Grab a Grub and C-Square for Rs 228 crore

Reliance Industrial Investments and Holdings (RIIHL), an arm of Reliance Industries (RIL), has agreed to acquire 82-83 per cent stake in two companies, Grab A Grub Services and C-Square Info Solutions, RIL said in two separate exchange filings on Sunday. The total outgo on the acquisitions is pegged at around Rs 228.5 crore.

Grab a Grab is a last-mile logistics start-up, headquartered in Mumbai, while Bengaluru-headquartered C-Square provides enterprise-resource-planning and analytics software to the pharmaceuticals industry.

According to the company filings, RIIHL will initially invest Rs 106 crore in Grab and an addition of Rs 40 crore in tranches until March 2021. The acquirer will gain 83 per cent equity capital in Grab on a fully diluted basis once the deal is complete.