JioMart
Acquisitions
3
Major Deals Covered
$283M
Disclosed Deal Value
JioMart's largest disclosed acquisition here is Dunzo (minority stake) for $200M in 2022. This page covers 3 major deals from 2020 to 2022, each with its price where disclosed and the reason behind it.
| Company | Year | Price | Purpose |
|---|---|---|---|
| Milkbasket | 2021 | Undisclosed | Reliance Retail acquired subscription milk and grocery delivery startup Milkbasket in 2021 to add daily morning delivery. |
| Dunzo (minority stake) | 2022 | $200.0M | Reliance Retail invested $200 million for a 25.8% stake in Dunzo in January 2022 to add hyperlocal delivery capacity. |
| Netmeds | 2020 | $83.0M | Reliance Retail bought a majority stake in Netmeds operator Vitalic Health for ~$71.9 million (₹620 crore) in August 2020 to add online pharmacy. |
2022
$200M
Reliance Retail invested $200 million for a 25.8% stake in Dunzo in January 2022 to add hyperlocal delivery capacity.
Enhanced rapid logistics routing and fleet dispatch capabilities.
Dunzo later ran into funding and operational trouble and scaled down sharply; JioMart built its own store-based quick commerce instead.
2021
Reliance Retail acquired subscription milk and grocery delivery startup Milkbasket in 2021 to add daily morning delivery.
Expanded daily recurring household grocery subscriptions across major Indian metros.
Integrated into JioMart grocery fulfillment.
2020
$83M
Reliance Retail bought a majority stake in Netmeds operator Vitalic Health for ~$71.9 million (₹620 crore) in August 2020 to add online pharmacy.
JioMart's growth plan has three parts. First, densify quick commerce: more stores and dark stores in markets where order volume justifies them (3,100+ stores by June 2026). Second, extend fast delivery beyond grocery, using Reliance Digital stores for electronics and the AJIO Rush service for fashion, where order values are higher. Third, push Reliance Consumer Products brands such as Campa, which Reliance wants to grow to ~$11.6 billion (₹1 lakh crore) of revenue by FY30, through JioMart's shelves.
JioMart makes money mainly as a first-party retailer: it buys groceries, staples, FMCG goods, electronics and fashion through Reliance Retail's supply chain and earns the retail margin when it sells them online. Orders are picked from nearby Reliance stores (Smart Bazaar, Smart Point, Reliance Digital, Trends) rather than from stand-alone warehouses, which lets the company reuse inventory and rent it already pays for. Additional income comes from third-party marketplace sellers (whose active base grew 26% year-on-year in Q1 FY27), brand advertising, delivery and handling fees, and Reliance's own consumer brands such as Campa, Independence and Good Life. A separate B2B channel, JioMart Partner, supplies neighbourhood kirana stores at wholesale prices.
In December 2022, Reliance Retail acquired 100% of Metro AG's Indian operations for ₹2,850 crore ($344M USD), adding 31 large-format wholesale distribution centers across 21 cities to power JioMart's B2B Kirana merchant supply network.
In 2019, Reliance acquired an 83% majority stake in Grab.in for ~$16.9 million (₹146 crore), integrating its automated rider dispatch algorithms and dedicated two-wheeler delivery fleets to power same-day local deliveries for JioMart.
In August 2020, Reliance acquired a 60% majority stake in Netmeds for ₹620 crore ($83M USD), integrating certified digital prescription fulfillment, lab test bookings, and OTC medicine delivery directly into the JioMart app.
In 2021, Reliance Retail acquired MilkBasket, integrating its micro-delivery logistics software to power automated daily morning deliveries of fresh milk, dairy, and breakfast items for JioMart customers.
In 2022, Reliance acquired Campa Cola for ~$2.55 million (₹22 crore), relaunching Campa beverages at disruptive price points across JioMart and physical stores, capturing large consumer nostalgia and market share.
In 2021 Reliance Retail bought a 40.95% stake in Justdial for ~$406 million (₹3,497 crore) and raised it to about 66% through an open offer, adding a large local merchant database.
Reliance Retail acquired controlling stakes in digital-first intimates leaders Zivame (2020) and Clovia (2022 for $125M), integrating their design catalogs into JioMart and Trends fashion portfolios.
Reliance focuses M&A capital on regional FMCG brands, automated warehouse robotics, AI-driven supply chain analytics, and specialized niche consumer lifestyle brands.
Reliance executes massive acquisitions to instantly add features to JioMart. In 2021, they bought Milkbasket (a highly popular micro-delivery startup) to master the incredibly difficult logistics of delivering fresh milk and eggs by 7 AM. They also acquired a massive controlling stake in Just Dial (India's massive local search engine) to heavily integrate millions of small merchants into the JioMart ecosystem.
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