India’s RIL to buy majority stakes in Grab A Grub, C Square for $33 mln

Indian retail to energy company Reliance Industries Ltd. (RIL) is close to buying majority stakes in online food delivery platform Grab A Grub Services Pvt Ltd. and technology company C-Square Info Solutions.

RIL, via its wholly owned subsidiary Reliance Industrial Investments and Holdings Ltd., has signed a deal to buy an 83 percent stake in Grab A Grub for about 106 crore rupees ($15 million) and will further invest $6 million in the company.

With the infusion, Grab A Grub, part of Grab, will further augment its digital commerce initiatives and strengthen its logistics services.

Moreso, RIL will also take in 82 percent stake C-Square Info Solutions for about $3 million and will invest an additional $9 million.