Reliance Retail picks 26% stake in Dunzo

New Delhi, January 6

Reliance Retail has bought a 25.8% stake in Dunzo, India’s leading quick commerce player, for $200 million (around Rs 1,488 crore) as it looks to expand its presence in online grocery delivery business.

Deal dynamics

Dunzo will enable hyperlocal logistics for the retail stores operated by RRVL, further adding onto Reliance Retail’s omni-channel capabilities

Dunzo raised $240 million in its latest funding round that was led by Reliance Retail Ventures Ltd — the retail arm of Reliance Industries, the two firms said.

In addition to the funding, Dunzo and Reliance Retail will also enter into certain business partnerships. Dunzo will also facilitate last mile deliveries for JioMart’s merchant network. — PTI