HDFC Mutual Fund sells 2.73% stake in Just Dial for over Rs 108 cr

Just Dial | File photo

HDFC Mutual Fund has offloaded 2.73 per cent stake in local search engine Just Dial for over Rs 108 crore through an open market transaction.

According to a regulatory filing, the schemes of HDFC Mutual Fund, which held8.33 per cent stake in Just Dial earlier, sold 1,690,653 shares constituting 2.73 per cent stake in the open market transaction.

The shares were offloaded on February 24, 2021.

Based on the weighted average price of Rs 639.60 of the stock on the sale day, the transaction is estimated to be around Rs 108.15 crore.

Post the transaction, shareholding of the schemes of HDFC Mutual Fund in Just Dial stood at 5.60 per cent.

Shares of Just Dial were trading 4.36 per cent lower at Rs 734 apiece on BSE.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel