Just Dial falls after Reliance Retail Ventures sells 2% stake in company

Just Dial is currently trading at Rs. 583.40, down by 6.45 points or 1.09% from its previous closing of Rs. 589.85 on the BSE.

Just Dial
Just Dial

The scrip opened at Rs. 592.00 and has touched a high and low of Rs. 598.20 and Rs. 580.25 respectively. So far 8029 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 957.50 on 21-Jan-2022 and a 52 week low of Rs. 520.30 on 20-Jun-2022.

Last one week high and low of the scrip stood at Rs. 629.00 and Rs. 580.25 respectively. The current market cap of the company is Rs. 4924.31 crore.

The promoters holding in the company stood at 76.98%, while Institutions and Non-Institutions held 8.67% and 14.35% respectively.

Just Dial’s promoter — Reliance Retail Ventures has sold 2 per cent stake in the company for Rs 101 crore in order to comply with the minimum public shareholding norms. According to the bulk deal data available with stock exchanges, Reliance Retail Ventures, a subsidiary of Reliance Industries, offloaded a total of 16,86,119 shares, amounting to 2 per cent stake in Just Dial.

The shares were sold at an average price of Rs 600 apiece, taking the transaction value to Rs 101.16 crore. The shareholding of promoter and promoter group entities in Just Dial, which offers online directory for local contacts, has come down to 74.98 per cent from 76.98 per cent.

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, Windows), over the telephone and text.

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