The conglomerate is considering investing about $300 million in the unicorn backed by Alphabet Inc.’s Google, the people said, asking not to be identified as the information is private. The transaction could be completed as soon as in the next few weeks, one of the people said.

Glance InMobi pushes curated news and entertainment content onto phone lock screens and also runs a short-video app. Reliance’s investment could involve strategic cooperation along with financial element, a different person said.

Such a deal would give Reliance access to valuable lock-screen real estate on the affordable mobile phones it’s co-developing with Google and slated to hit the market in time for the Diwali shopping season in end of October. It would also give Reliance strategic entry into short-video content, a category where users are skyrocketing.

Deliberations are ongoing and Reliance could decide not to proceed with the investment, the people said. A representation for Glance did not immediately respond to an email seeking comment.

Google agreed last year to invest $4.5 billion in a partnership with Reliance, which included plans for a low-cost smartphone as part of Reliance Chairman Mukesh Ambani’s efforts to build a local technology titan. The phone was set for its debut earlier this month, but the launch was delayed due to global shortage of semiconductors.

“Government brings out “Offer for sale” for 10% Equity stake sale in Hindustan Copper Ltd, including 5% Green-shoe option. The offer opens tomorrow for Non-Retail investors at a floor price of Rs.116 per share. Retail investors can bid on Friday”, Department of Investment and Public Asset Management secretary Tuhin Kanta Pandey tweeted on Wednesday.

The floor price for the OFS has been pegged at Rs.116 per share. On Wednesday share price of Hindustan Copper closed 1.27% down at Rs 124.5.

Hindustan Copper reported a net profit of Rs 110 crore in FT21 against a loss of Rs 598 crore in the preceding year. The central public-sector enterprises (CPSE) under the Ministry of Mines, reported a total income of Rs 1,822 crore in FY21, compared to Rs 888.81 crore in FY20.

The Centre has so far garnered Rs 8,369 crore, against the disinvestment target of Rs 1.75 trillion for FY22. It has sold its entire stake in Axis bank held through Specified Undertaking of the Unit of India (SUUTI) for Rs3,994 crore and got Rs 3,654 crore and Rs 720 crore through stake sales in NMDC Ltd and Hdco Ltd, respectively.

A per the agreement finalized, Just Dial founder VSS Mani would continue to lead the company as its managing director and chief executive officer.

RRVL would hold 40.95 percent stakes in the company, as per the definite agreements executed on July 16, and would make an open offer to acquire up to 26 percent in accordance with the takeover regulations, a press release stated.

Out of the 40.95 percent stakes acquired by Reliance Retail, it has received a preferential allotment of 2.12 crore equity shares, which is equivalent to 25.33 percent post preferential share capital at price per share of Rs 1,022.25.

RRVL has also acquired 1.31 crore equity shares from VSS Mani, which is equivalent to 15.62 percent post preferential share capital at a price per share of Rs 1,020.

“The capital infused by RRVL will help drive the growth and expansion of Just Dial into a comprehensive local listing and commerce platform. Just Dial would expand discovery on its platform and enhance transactions for millions of products and services,” the press release added.

These investments will leverage Just Dial’s existing database of an estimated 30.4 million listings and its existing consumers’ traffic of around 129.1 million quarterly unique users, it further noted.