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Hot Pursuit
20-Dec-22
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Just Dial slips as RRVL intends 2% stake sell via open market
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Just Dial declined 1.96% to Rs 610.15 after Reliance Retail Ventures (RRVL), company's promoter intended to sell equity shares of the company through open market for the purpose of complying with the requirements of minimum public shareholding.
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As on 30 September 2022, the promoter and promoter group held 76.98% stake in Just Dial, of which RRVL held 66.40%. As per regulatory norms, the total promoter holding in a company must not exceed 75%.
RRVL shall be undertaking a sale of 16,86,119 equity shares constituting 2% of the total paid-up equity share capital of the company. RRVL intends to complete this sale of shares within a period of eight trading days beginning 21 December 2022.
Just Dial provides local search related services to users in India through multiple platforms such as Desktop/ PC website, mobile site, mobile apps (Android & iOS), over the telephone and text (SMS).
The company's consolidated net profit rose 58.49% to Rs 52.16 crore on 31.59% increase in net sales to Rs 205.26 crore in Q2 FY23 over Q2 FY22.
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