Just Dial share price jumps 7% after Board approves share buyback
The Board of Directors of the company approved the proposal for buyback of up to 31,42,857 equity shares.
April 30, 2020 / 01:45 PM IST
Just Dial share price jumped over 7 percent intraday on April 30 after the board approved a proposal for buyback of up to 31,42,857 equity shares.
The Board of Directors, at a meeting on April 30, approved buyback of up to 31,42,857 equity shares (representing 4.84 percent of the total paid-up equity share capital) at a maximum price of Rs 700 per equity share payable in cash, for an aggregate maximum amount of up to Rs 220,00,00,000 excluding transaction costs, the company told the exchanges.
The stock, which has jumped over 48 percent in the last one month, was quoting at Rs 417, up Rs 27.20, or 6.98 percent at 1328 hours.
Just Dial provides local search-related services to users in India through multiple platforms.