Home Top Stories Reliance Retail Acquires Sole Control Of Just Dial, Holds 40.98% In Local...

Reliance Retail Acquires Sole Control Of Just Dial, Holds 40.98% In Local Search Engine Platform

Reliance Retail Acquires Controlling Stake In Just Dial

Reliance Retail holds 40.98 per cent in Just Dial Limited

Reliance Retail – the retail arm of billionaire Mukesh Ambani-led Reliance Industries Limited, now holds the sole control of local search engine platform Just Dial Limited, with a stake of 40.98 per cent. The country’s leading retailer has taken sole control of the internet technology B2B company in accordance with the Securities and Exchange Board of India (SEBI) takeover regulations with effect from September 1, 2021.

On July 20, Reliance Retail had acquired 1.31 crore equity shares of Rs.10 each of Just Dial at a price of Rs.1,020 per equity share from Mr. VSS Mani, Founder, just Dial, on the floor of the stock exchange through the block window facility. (Also Read: Reliance Retail Acquires 40.95% Stake In Just Dial For Rs 3,947 Crore )

The current acquisition represents 15.63 per cent of the post-preferential issue paid-up equity share capital of Just Dial, according to a regulatory filing by Reliance Industries to the stock exchanges today.

Pursuant to the preferential issue, Just Dial allotted 2.12 crore equity shares of Rs 10 each at a price of Rs 1,022.25 per equity share (including a premium of Rs 1,012.25 per equity share) – representing 25.35 per cent of the post-preferential issue paid-up share capital to Reliance Retail. 

It was reported earlier that with the acquisition, Mr VSS Mani will continue to lead Just Dial as its managing director and chief executive officer (CEO). The capital infused by Reliance will leverage Just Dial’s existing database of about 30.4 million listings and its existing consumer traffic of around 129.1 million quarterly unique users.

On Thursday, September 2, shares of Reliance Industries settled 1.05 per cent higher at Rs 2,293.65 apiece on the BSE. 

Source link


Telangana Congress Chief’s Remarks On Shashi Tharoor Irk Party Leaders

<!-- -->PM Modi, Shashi Tharoor had said, should be praised "whenever he says or does the right thing".Telangana Congress chief's unparliamentary comments on...

Won’t Let India Turn Into Pakistan Or Taliban: Mamata Banerjee’s Bypoll Pitch

<!-- -->Mamata Banerjee has won from Bhabanipur twice in 2011 and 2016 (File)Kolkata: West Bengal Chief Minister Mamata Banerjee on Thursday said that...


Please enter your comment!
Please enter your name here

Most Popular

Shraddha Kapoor lays style cues to sizzle at cocktail night in wine belted saree | Fashion Trends

Want to slay at a cocktail night? Take fashion inspiration from Shraddha Kapoor's sultry look in a ₹3.4k wine foil pallu belted saree...

Unvaccinated Brazil’s Bolsonaro To Defy New York Jab Rule For UN Meet

<!-- -->Brazil's President Jair Bolsonaro has not taken vaccination against COVID-19. (File)Brasilia: Brazil's Covid-unvaccinated President Jair Bolsonaro said Thursday he will attend next...

Paris’ Arc de Triomphe ‘a gift offered to Parisians, French and all art lovers’

The city of Paris is unveiling a monumental artwork built around an actual monument: the Arc de Triomphe completely wrapped in silver and...

Recent Comments