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Promoter Reliance Retail Ventures plans to sell 2% stake in through the open market by the end of this month in order to comply with regulatory requirements.
Promoter and promoter group entities together hold 76.98% stake in Just Dial. As per regulatory norms, the total promoter holding in a company must not exceed 75%.
Retail held 66.40% stake as of September 30.
“RRVL (Reliance Retail Ventures) intends to complete the sale of shares within a period of 8 trading days beginning December 21,” the company said in a release.
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