After the promoter of Reliance Retail Ventures (RRVL) intended to sell company equity shares through the open market to comply with the requirements of minimum public shareholding then, Just Dial slipped from 1.96% to Rs 610.15.

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All the promoters and group of promoters held 76.98% stake in Just Dial, of which RRVL held 66.40%. All the promoters have a stake, which shall be at most 75%.

The sale of 16,86,119 equity shares constituting 2% of the total paid-up equity share capital RRVL intends to complete this sale of shares within eight trading days beginning 21 December 2022.

Just Dial provides local search-related services to Indian users through multiple platforms such as Desktop/ PC websites, mobile sites, 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 a 31.59% increase in net sales to Rs 205.26 crore in Q2FY23 over Q2FY22.