Reliance Retail picks 25.8% stake in Dunzo

Reliance Retail has purchased a 25.8 per cent stake in Dunzo, India’s main fast commerce participant, for USD 200 million (round Rs 1,488 crore) because it seems to be to increase its presence in on-line grocery supply enterprise.
Dunzo raised USD 240 million in its newest funding spherical that was led by Reliance Retail Ventures Ltd – the retail arm of Reliance Industries, the 2 companies mentioned in a press release.
Existing buyers Lightbox, Ligthrock, 3L Capital and Alteria Capital additionally participated within the funding spherical.
“With an investment of USD 200 million, Reliance Retail will own 25.8 per cent stake,” the assertion mentioned.