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Reliance retail acquires control of Just Dial
September 03, 2021
Reliance Retail Ventures Limited (RRVL) has taken sole liability for Just Dial Limited as per the Securities and Exchange Board of India (SEBI) takeover guidelines with impact from September 1, 2021. Reliance Retail Ventures Ltd presently holds 40.98 percent in Just Dial Ltd, a statement released by the organization on September 2 read.
On July 20, 2021, RRVL had procured 1.31 crore value portions of ₹10 every one of Just Dial at a cost of ₹1,020 for each value share from the organization’s CEO VSS Mani on the floor of the stock trade through the square window facility.
The acquisition represents 15.63 percent of the post-preferential issue paid up value share capital of Just Dial, Reliance Retail said in an official statement.
On September 1, 2021, Just Dial, in accordance with the particular issue, dispensed 2.12 crore value portions of ₹10 each at a cost of ₹1,022.25 per value share (counting a premium of ₹1,012.25 per equity share) representing 25.35 percent of the post-preferential issue paid up share capital of Just Dial to RRVL.
Reliance Retail Ventures, which is a subsidiary of Reliance Industries Limited and holding organization of all the retail organizations under the RIL Group, revealed a united turnover of ₹157,629 crore and a net benefit of ₹5,481 crore for the year finished March 31, 2021.
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