 "Reliance Retail Ventures sells 2% stake in Just Dial for Rs 101 crore")
Just Dial's promoter Reliance Retail Ventures on Wednesday sold 2 per cent stake in the company for Rs 101 crore in order to comply with the minimum public shareholding norms.
According to the bulk deal data available with stock exchanges, Reliance Retail Ventures, a subsidiary of Reliance Industries, offloaded a total of 16,86,119 shares, amounting to 2 per cent stake in Just Dial.
The shares were sold at an average price of Rs 600 apiece, taking the transaction value to Rs 101.16 crore.
The shareholding of promoter and promoter group entities in Just Dial, which offers online directory for local contacts, has come down to 74.98 per cent from 76.98 per cent.
On Monday, Just Dial said that Reliance Retail will sell 2 per cent stake in the company through the open market transactions to comply with regulatory requirement of 25 per cent minimum public shareholding.
On Wednesday, shares of Just Dial closed 2.97 per cent lower at Rs 589.85 per piece on BSE and Rs 591.25 each piece on NSE.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app