Cyril Amarchand Mangaldas acted as the legal counsel to Just Dial Limited (Just Dial) in relation to the acquisition of controlling stake by Reliance Retail Ventures Limited (Reliance Retail). The transaction involves a combination of a primary and secondary acquisition. Pursuant to the Transaction, RRVL has made an open offer to the public shareholders pursuant to the SEBI Takeover Regulations. The total value of the transaction, including open offer will be INR 5719 crores.<\/p>\n
The General Corporate Practice of Cyril Amarchand Mangaldas advised on the Transaction. The Public M&A Team was led by L.Viswanathan, Partner, Nivedita Rao,\u00a0Partner;\u00a0and Gautam Gandotra,\u00a0Partner;\u00a0with support from Arnav Shah,\u00a0Principal Associate, and Ananya Pandit,\u00a0Associate.<\/p>\n
The Transaction involves primary preferential allotment of 2.12 crore equity shares (equivalent to 25.33% post preferential share capital) to Reliance Retail. The secondary acquisition involves acquisition of 1.31 crore equity shares by Reliance Retail, equivalent to 15.62% post preferential shared capital, from Mr. VSS Mani, who will continue as the Managing Director of Just Dial. Under the open offer, Reliance Retail will acquire up to 2.17 crore equity shares of Just Dial (equivalent to 26% post preferential share capital) in the Just Dial.
\nThe Transaction was signed on July 16, 2021.<\/p>\n","protected":false},"excerpt":{"rendered":"
Cyril Amarchand Mangaldas acted as the legal counsel to Just Dial Limited (Just Dial) in relation to the acquisition of controlling stake by Reliance Retail Ventures Limited (Reliance Retail). The transaction involves a combination of a primary and secondary acquisition. Pursuant to the Transaction, RRVL has made an open offer to the public shareholders pursuant […]<\/p>\n","protected":false},"author":1,"featured_media":60895,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[47624],"class_list":["post-60894","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-law-news","tag-just-dial-in-relation-to-the-acquisition-of-controlling-stake-by-reliance-retail-ventures-limited"],"yoast_head":"\n