Search and discovery firm Just Dial on Monday said its promoter Reliance Retail Ventures Limited will sell 2% stake in the company to achieve minimum public shareholding.
The stake sale will happen through open market sale, said Just Dial in a stock exchange filing.
Reliance Retail Ventures intends to complete the share sale within a period of eight trading days beginning December 21, 2022, said Just Dial.
As of September 2022, promoters held 76.98% stake Just Dial.
As per regulatory norms, the total promoter holding in a company must not exceed 75%.
On Monday, Just Dial’s scrip close trading 4.5% higher at Rs 621.
