Reliance Retail to sell 2% stake
The search and discovery company Just Dial announced on Monday that its promoter Reliance Retail Ventures Limited will sell 2% of the business to the public to meet the minimal shareholding requirement.
According to a stock exchange filing by JustDial, the share sale will take place through an open market transaction.
According to Just Dial, Reliance Retail Ventures plans to sell the shares within eight trading days starting on December 21, 2022.
Promoter ownership of Just Dial was at 76.98% as of September 2022.
According to regulatory requirements, no more than 75% of a corporation may be owned by promoters.
Just Dial’s stock closed Monday’s trading 4.5% higher at Rs 621.