Reliance Retail to take controlling stake in Just Dial for Rs3,497 cr domain-b.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from domain-b.com Daily Mail and Mail on Sunday newspapers.
Reliance Retail to buy 67% Stake in Just Dial for Over Rs5,720 crore
Moneylife Digital Team
17 July 2021 2
In a statement, the company says, Reliance Retail Ventures will hold 40.95% in Just Dial and would make an open offer to acquire up to 26.0% in accordance with takeover regulations. VSS Mani, founder of Just Dial will continue to lead Just Dial as managing director (MD) and chief executive officer (CEO).
Reliance will use a combination of preferential allotment, a secondary purchase from VSS Mani and an open offer for up to 26% at Rs1,022.25 per share (offer price). The offer price is at a 4.5% discount to Friday’s closing stock price of Rs1,072.70. The first two will cost Rs3,500 crore and the open offer as much as Rs2,222 crore rupees in cash.
Reliance Retail Ventures Ltd to acquire controlling stake in Just Dial Limited equitybulls.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from equitybulls.com Daily Mail and Mail on Sunday newspapers.
Reliance Retail extends deadline to complete Rs 24,713 crore deal with Future Group
The deal, which is contested by Amazon, is facing legal hurdles and a decision from the Supreme Court is pending over the petition filed by the e-commerce major.
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NEW DELHI: Reliance Retail Ventures, the retail arm of Reliance Industries, has extended the timeline for six months to complete its Rs 24,713 crore deal with Kishore Biyani-led future group to buy its retail and wholesale business.
Reliance Retail Ventures Ltd (RRVL) has extended the timeline for the Long Stop Date from March 31, 2021 to September 30, 2021, said a regulatory filing by Future Retail.
Reliance Retail Ventures, the retail arm of Reliance Industries, has extended the timeline for six months to complete its Rs 24,713 crore deal with Kishore Biyani-led future group to buy its retail and wholesale business.
Reliance Retail Ventures Ltd (RRVL) has extended the timeline for the Long Stop Date from March 31, 2021 to September 30, 2021, said a regulatory filing by Future Retail. Pursuant to the provisions of scheme and other transaction documents executed in relation thereto, RRVL has in exercise of the right provided thereunder, extended the timeline for Long Stop Date from March 31, 2021 to September 30, 2021 which has been duly acknowledged by Reliance Retail and Fashion Lifestyle Limited, wholly-owned subsidiary of RRVL, it said.