Reliance Retail holds 40.98 per cent in Just Dial LimitedReliance Retail - the retail arm of billionaire Mukesh Ambani-led Reliance Industries Limited, now holds the sole control of local online search engine platform Simply Dial Limited, with a stake of 40.98 per cent.

The country's leading retailer has actually taken sole control of the web innovation B2B company in accordance with the Securities and Exchange Board of India (SEBI) takeover guidelines with result from September 1, 2021.

On July 20, Reliance Retail had actually gotten 1.31 crore equity shares of Rs.10 each of Just Dial at a cost of Rs.1,020 per equity share from Mr.

VSS Mani, Founder, simply Dial, on the flooring of the stock market through the block window center.

(Likewise Read: Reliance Retail Obtains 40.95% Stake In Just Dial For Rs 3,947 Crore )The present acquisition represents 15.63 per cent of the post-preferential issue paid-up equity share capital of Just Dial, according to a regulative filing by Reliance Industries to the stock market today.Pursuant to the preferential issue, Simply Dial allotted 2.12 crore equity shares of Rs 10 each at a rate of Rs 1,022.25 per equity share (including a premium of Rs 1,012.25 per equity share) - representing 25.35 percent of the post-preferential problem paid-up share capital to Reliance Retail.

It was reported earlier that with the acquisition, Mr VSS Mani will continue to lead Simply Dial as its handling director and chief executive officer (CEO).

The capital instilled by Reliance will utilize Just Dial's existing database of about 30.4 million listings and its existing customer traffic of around 129.1 million quarterly special users.On Thursday, September 2, shares of Reliance Industries settled 1.05 per cent higher at Rs 2,293.65 each on the BSE.