The announcement was made after market hours on Tuesday, 24 November 2015. The stock market was closed yesterday, 25 November 2015, on account of Gurunanak Jayanti.

Meanwhile, the S&P BSE Sensex was up 163.91 points or 0.64% at 25,939.65.

On BSE, so far 1.09 lakh shares were traded in the counter as against average daily volume of 1.22 lakh shares in the past one quarter.

The stock hit a high of Rs 969.95 and a low of Rs 940 so far during the day. The stock had hit a 52-week high of Rs 1,631.70 on 28 January 2015. The stock had hit a 52-week low of Rs 741.10 on 9 November 2015.

The stock had underperformed the market over the past one month till 24 November 2015, sliding 11.74% compared with Sensex's 6.17% fall. The scrip had, however, outperformed the market in past one quarter, surging 11.31% as against Sensex's 0.13% rise.

The mid-cap company has equity capital of Rs 70.52 crore. Face value per share is Rs 10.

Just Dial said it will buyback upto 10.61 lakh fully paid-up equity shares of face value of Rs 10 each at Rs 1,550 per equity share. It added that the buyback will be undertaken on a proportionate basis from the shareholders as of 4 December 2015 through a tender offer. The buyback is being undertaken by the company to return surplus funds to its shareholders, which are over and above its ordinary capital requirements and in excess of any current investment plans, the company said in a statement. The company added that the buyback would result in improving earnings per share, mitigating the effects of short-term market volatility and enhancing shareholders' confidence among other things.

The buyback price of Rs 1,550 per share is at a steep premium of 66.78% based on the stock's closing price of Rs 929.35 on BSE on Tuesday, 24 November 2015.

In a separate announcement after market hours on Tuesday, 24 November 2015, Just Dial said its shareholders have approved 4 December 2015 as the record date for the buyback of equity shares.

Just Dial's net profit rose 47% to Rs 46.30 crore on 16.2% growth in net sales to Rs 171.27 crore in Q2 September 2015 over Q2 September 2014.

Just Dial started offering local search services in 1996 under the Justdial brand and is now the leading local search engine in India.