Reliance Retail Ventures announced the acquisition of 40.95 per cent stake in Just Dial for Rs 3,497 crore.
A regulatory filing said RRVL will make an open offer for acquisition of an additional 2.17 crore equity shares of Just Dial, which represents 26 per cent stake, in accordance with the SEBI takeover regulation.
- PTI New Delhi
- Last Update:16 July 2021 8:50 pm IST
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Reliance Retail Ventures, a subsidiary of Reliance Industries, on Friday announced the acquisition of 40.95 per cent stake in Just Dial for Rs 3,497 crore. A regulatory filing said RRVL will make an open offer for acquisition of 2.17 crore equity shares in addition to Just Dial, which represents 26 per cent stake, as per SEBI takeover regulation.
VSS Mani will continue as Managing Director and Chief Executive Officer of Just Dial through the next phase of growth. The capital provided by RRVL will help drive Just Dial’s growth and expansion into a comprehensive local listing and commerce platform.
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