HomeBusinessReliance 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

At 40.9%, Reliance Retail Acquires Sole Control Of 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 only real management of native search engine platform Just Dial Limited, with a stake of 40.98 per cent. The nation’s main retailer has taken sole management of the web know-how B2B firm in accordance with the Securities and Exchange Board of India (SEBI) takeover rules with impact from September 1, 2021.

On July 20, Reliance Retail had acquired 1.31 crore fairness shares of Rs.10 every of Just Dial at a worth of Rs.1,020 per fairness share from Mr. VSS Mani, Founder, simply Dial, on the ground of the inventory trade by way of the block window facility. (Also Read: Reliance Retail Acquires 40.95% Stake In Just Dial For Rs 3,947 Crore )

The present acquisition represents 15.63 per cent of the post-preferential difficulty paid-up fairness share capital of Just Dial, based on a regulatory submitting by Reliance Industries to the inventory exchanges in the present day.

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