Reliance Industries’ retail arm -- Reliance Retail Ventures (RRVL) has now taken sole control of Just Dial in accordance with the SEBI Takeover Regulations with effect from September 1, 2021.
On July 20, 2021, RRVL acquired 1.31 crore equity shares of Rs 10 each of Just Dial at a price of Rs 1,020 per equity share from VSS Mani on the floor of the stock exchange through the block window facility. The acquisition represents 15.63% of the post-preferential issue paid-up equity share capital of Just Dial. On September 1, 2021, Just Dial, pursuant to the preferential issue, allotted 2.12 crore equity shares of Rs 10 each at a price of Rs 1022.25 per equity share (including a premium of Rs 1012.25 per equity share) representing 25.35% of the post-preferential issue paid-up share capital of Just Dial to RRVL.
Reliance Industries is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.
