Reliance Retail takes control of Just Dial Ltd

Mumbai: Reliance Retail Ventures Limited (“RRVL”) today said it 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.