Reliance Retail Ventures Ltd acquires controlling stake in Just Dial Ltd

Further to the earlier announcement regarding acquisition of controlling stake in Just Dial, Reliance Retail Ventures Limited ("RRVL"), has now taken sole control of Just Dial Limited ("Just Dial") in accordance with the SEBI Takeover Regulations with effect from September 1, 2021.

- On July 20, 2021, RRVL 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 on the floor of the stock exchange through the block window facility. The acquisition represents 15.63% of the post-preferential issue paid-up equity share capital of Just Dial.

- On September 1, 2021, Just Dial, pursuant to the preferential issue, allotted 2.12 crore equity shares of Rs. 10/- each at a price of Rs. 1022.25/- per equity share (including a premium of Rs. 1012.25/- per equity share) representing 25.35% of the post-preferential issue paid-up share capital of Just Dial to RRVL.

Shares of Reliance Industries Ltd was last trading in BSE at Rs. 2293.65 as compared to the previous close of Rs. 2269.75. The total number of shares traded during the day was 293438 in over 22351 trades.

The stock hit an intraday high of Rs. 2307 and intraday low of 2258.45. The net turnover during the day was Rs. 671782632.

Source : Equity Bulls

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