Just Dial fell 2.58% to Rs 1045.65 after Reliance Retail Ventures (RRVL) announced an open offer to acquire 26% stake in the company at Rs 1,022.25 per share.RRVL announced an open offer for acquisition of up to 2,17,36,894 equity shares of Just Dial (representing 26% stake) for a cash consideration of Rs 2,222.05 crore.
The shares in the open offer are being acquired at a price of Rs 1,022.25 apiece, at 4.76% discount to the scrip s closing price of Rs 1073.30 on Friday (16 July 2021).
After market hours on Friday, Reliance Industries (RIL) through its retail arm RRVL announced that the acquisition of a majority stake of 66.95% in local search engine company Just Dial for Rs 3,497 crore.
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Shares of Reliance Industries (RIL) and Just Dial will be in focus. RIL through its retail arm Reliance Retail Ventures (RRVL) announced that it is acquiring a majority stake of 66.95% in local search engine company Just Dial for Rs 3,497 crore.
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Shares of Just Dial slipped 5 per cent to Rs 1,021 on the BSE in intra-day trade on Monday after Reliance Retail Ventures (RRVL) announced the acquisition of 40.95 per cent in the country’s leading local search engine company for a total consideration Rs 3,497 crore. RRVL made an open offer for a 26 per cent stake at Rs 1,022.25 per share. RRVL will hold a 40.95 per cent stake via preferential allotment (25.33 per cent) and acquisition of stake from existing promoters (around 15.62 per cent). RRVL will get a 25.33 per cent stake in the company via preferential allotment of 21.2 million shares at a price of Rs 1022.25 per share.
Net profit Rs 7,729.62 crore vs estimate Rs 7,931 crore.
Net interest income Rs 17,009 crore vs. estimate Rs 17,634 crore
GNPA: 1.47% vs 1.32% (QoQ)
NNPA: 0.48% vs 0.4% (QoQ)
Advances rose 14.4% YoY to Rs 11.47 lakh crore.
Been through unprecedented times last year and even this financial year, Sashidhar Jagdishan, MD & CEO, HDFC Bank said. He said the these are the worst of times the bank could have been through but the results were reasonably healthy .
Justdial (Q1FY22, Consolidated, QoQ)
Revenue down nearly 6% at Rs 165.4 crore vs Rs 175.7 crore
To optimize discretionary costs, the company had curtailed its advertising spends in FY21.
However, advertising spends accelerated to nearly Rs 50 crore during Q1FY22 to promote the newly launched B2B platform, JD Mart.