Shubham Jaiswal ([email protected])
The board of the Internet company Just Dial today approved a share buyback proposal of up to 31,42,857 equity shares at a maximum price of ₹700 per equity share. This represents 4.84% of the total paid up equity share capital of the company in a buyback offer amounting up to ₹700 crore.
Just Dial said it will provide relevant updates in relation to the buyback as per applicable law in due course.
Just Dial shares were trading 7% higher at ₹418 in noon trade. The company’s promoters held 33.44% stake in the company, as of 24th April.