Reliance Retail acquires sole control of Just Dial Ltd-Mukesh Ambani News
2 September 2021, Mumbai: Following the July 16, 2021 public announcement announcing the purchase of a controlling interest in Just Dial, Reliance Retail Ventures Limited (“RRVL”) has now acquired sole control of Just Dial Limited (“Just Dial”) in line with the SEBI Takeover Regulations, with effect from September 1, 2021.
a) On July 20, 2021, RRVL purchased 1.31 crore equity shares of Rs. 10/- each of Just Dial on the stock market floor from Mr. VSS Mani at a price of Rs. 1,020/- per equity share.
The purchase includes 15.63 percent of Just Dial’s post-preferential issue paid-up equity share capital.
b) On September 1, 2021, Just Dial allotted 2.12 crore equity shares of Rs. 10/- each to RRVL under the preferential issue at a price of Rs. 1022.25/- per equity share (besides a premium of Rs. 1012.25/- per equity share), showing 25.35 percent of Just Dial’s post-preferential issue paid-up share capital.
