The Reliance family office, the private company of Mukesh Ambani, is close to acquiring a majority stake in Embibe.com, an online education portal, for close to Rs 100 crore, two people with knowledge of the matter said.
A transaction will likely see the promoters and current investors in the Mumbai-based education portal, which prepares students for competitive entrance tests, selling their stake. “The deal is as good as done,” said one person.
“The discussions were on for some time after the Reliance family office directly approached the portal.” There is no investment banker involved in the deal, he added.
Reliance Industries and Embibe did not respond to ET’s emails sent on April 4, seeking comment on the matter. The acquisition has been planned keeping in mind the requirements of Reliance Jio Infocomm, the telecom arm, according to another person familiar with the matter.
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