Reserve Bank of India (RBI) has increased foreign institutional investors' (FIIs) investment limit in Just Dial to 75% of its paid-up capital. RBI has notified that FIIs/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 75 per cent (revised from earlier limit of 49 per cent) of the paid up capital of Just Dial under the Portfolio Investment Scheme. The company has already passed resolutions at its Board of Directors’ level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares and convertible debentures by FIIs.
Just Dial is one of the leading local search engines in India. It provides users search services with information and user reviews from its database of local businesses, products and services across India.
