Fri. Mar 29th, 2024
JustDial

Justdial which is an online portal for searching services has made an announcement to buyback its equity share from the shareholders. The company has planned to buy shares of worth ₹84 crore from the holders at a price not exceeding ₹700 per share.

Justdial has informed its Board of Directors in a regulatory filing. It said, “considered and approved the proposal to buyback of the company’s fully paid-up equity shares from its shareholders from the open market”.

According to the filing, the company will buyback shares for a total amount not exceeding ₹83.91 crore, and at a price not exceeding ₹700 per equity share.

At the maximum buyback price, the company would purchase a maximum of 11.98 lakh shares, or around 1.72% of the existing paid-up equity share capital, from the shareholders. The stock was trading 2.80% higher at ₹389.70 on the BSE.

By Bharat