Reliance-Just Dial deal: RRVL to acquire MAJORITY 66.95 per cent stake in Just Dial
VSS Mani will continue as Managing Director and Chief Executive Officer of Just Dial through the next phase of growth
)
09:28 AM IST
Reliance Retail Ventures, a subsidiary of Reliance Industries, on Friday announced the acquisition of 40.95 per cent stake in Just Dial for Rs 3,497 crore.
See Zee Business Live TV Streaming Below:
RRVL will make an open offer to acquire additional up to 2.17 crore equity shares of Just Dial, representing 26 per cent stake, in accordance with Sebi Takeover Regulations, a regulatory filing said.
VSS Mani will continue as Managing Director and Chief Executive Officer of Just Dial through the next phase of growth, it added.
The capital infused by RRVL will help drive the growth and expansion of Just Dial into a comprehensive local listing and commerce platform.
Just Dial shares ended the Friday on NSE on Rs 1,070.00, down Rs 37.05 ( or 3.35%). The news about the deal came after the markets were closed.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
)
Rs 13 Lakh Lump Sum Investment in Mutual Funds: How many years will it take to create a Rs 1 crore, Rs 2 crore & Rs 3 crore corpus?
)
Best Multi Cap and Flexi Cap Mutual Funds with Highest SIP Returns in 3 years: Rs 25,000 monthly investment in No. 1 fund has grown to Rs 13.5 lakh in just 3 years
)
9 Stocks To Buy For Short Term: Analysts suggest buying largecap, midcap, smallcap scrips for 2 weeks; Godrej Consumer on the list
)
Pay 0 Income Tax on Rs 15.25 lakh Income: Why your Rs 15,25,000 salaried income can be tax-free in new tax regime
)
SBI vs Canara Bank 10-year FD For Senior Citizens: Compare maturity of Rs 3.5 lakh- Rs 6.5 lakh deposits in both PSU banks
09:28 AM IST