Just Dial has received the Reserve Bank of India’s (RBI) nod to buy back shares of the company at a maximum price of Rs 1,550 per equity share. The company proposes to get shareholders’ approval for the same through a postal ballot, though the date of which has not been announced yet.
Earlier in June, the company intended to buy back up to 25 per cent of the paid-up capital and free reserves of the company at a maximum price of Rs 1,550 per equity share of face value Rs 10 each. The company’s board approved the same on June 4.
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.
