Reliance Industries in talks for majority stake in startup Grab - Times of India
India Business News: Known as Grab, the startup provides third-party, last-mile logistics services for food delivery companies, online pharmacy and grocery delivery, among
- Reliance Industries ( RIL ) is in advanced discussions to buy a majority stake in Mumbai-based hyperlocal logistics startup Grab a Grub Services, according to two sources familiar with the development.
- The company had also held talks with Paytm for an acquisition,” said one of the sources mentioned earlier.
- The acquisition, if it goes through, will help Reliance with a new commerce push, which is expected to be launched by telecom arm Reliance Jio and Reliance Retail.