').insertAfter(".article-content__img");$(".article-content__img div").find('div').remove();
Reliance Retail Ventures Sells 2% Stake In Just Dial For Rs 101 Crore
Reliance Retail Ventures said it sold the stake in order to comply with the minimum public shareholding norms
Topics
Reliance Retail | Just Dial
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.)
Subscribe to Business Standard Premium
Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!
First Published: Wed, December 21 2022. 20:36 IST
RECENT NEWS
HSBC Swings The Axe At UK Wealth In An AI Push
HSBC is preparing deep job cuts across its UK wealth management arm. It plans to cut about half of its management and sp... Read more
Kraken's Owner Buys A Bank: The Lines Are Blurring
Payward, the parent company of the crypto exchange Kraken, has agreed to buy a European bank. It would be the first digi... Read more
Revoluts Australian Banking Licence Game Changer
Revolut has spent much of its life insisting that it is more than a bank. In Australia, it has now decided that becoming... Read more
The AI Bank Is Coming, But Who Controls The Risk?
Artificial intelligence is no longer something banks discuss as a distant possibility. It is already working behind the ... Read more
ClearBank UK Profit Leads To European Growth
ClearBank has spent much of the past decade building the technology and regulatory infrastructure needed to challenge so... Read more