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AZB, IC Universal act on $15m buy of Grab A Grub by Reliance

Reliance Industries-controlled Reliance Industrial Investment and Holdings Limited (RIIHL), has picked up majority stakes in two companies, Grab A Grub Services and C-Square Info Solutions, the petroleum-to-retail-to-telecommunications conglomerate announced on Saturday. In two separate filings made to the Bombay Stock Exchange, RIL said that RIIHL, a wholly-owned subsidiary of India’s largest private sector company, has agreed to pay Rs 106 crore to acquire equity shares in Mumbai-based logistics platform Grab A Grub, and will invest an additional Rs 40 crore in the four-year-old company.

The Economic Times

AZB & Partners advised Aramex Ventures LLC led by a team of partners Allwyn Noronha and Gautam Varma, and associates Ridhima Khurana.

Update 12 December 2019: IC Universal Legal advised Grab a Grub Services Private Limited led by a team of partner senior associate Puneet Shah Kanishka Bajpai and associate Vartika Koolwal.


Deal value: $15.3m / INR 1060m

This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.

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