Justdial Profits Up 45.5%, Eyes Equity Buyback Worth $29 Mn

Hyperlocal search engine Justdial is looking to buyback equity shares worth INR 220 Cr in the coming 4-5 weeks, the Mumbai-based company has confirmed this in its BSE listing while announcing its financial results.The company will be buying back nearly 31,42,857 equity shares representing up to 4.84% of the total number of equity shares of the paid-up equity share capital. Each equity share will be valued at INR 700.

“The buyback is progressing on expected timelines, majority of the required approvals are in place, the record date was July 3, 2020 and the tender offer window is expected to open on August 4, 2020. The buyback is expected to be completed in another 4-5 weeks,” Justdial said. 

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