Justdial: Know History & Just Dial Share Price – Stocks NSE/BSE
An Indian internet technology business called JustDial offers local search for various services in India over the phone, on the web, and through mobile apps. VSS Mani founded it in 1996.
About Justdial: The business has its headquarters in Mumbai, India. Justdial has offices in Ahmedabad, Bangalore, Chandigarh, Chennai, Coimbatore, New Delhi, Hyderabad, Jaipur, Kolkata, and Pune in addition to its headquarters.
With approximately 29.4 million listings in its database and 536,236 active paid campaigns, Justdial had 10,984 employees in 2020.
For $3,497 crore, Reliance Retail purchased a 66.95% share in JustDial on July 16, 2021. While employed by a yellow page publisher in 1987, VSS Mani had the idea to replace Yellow Pages with a database of data that customers could call to get up-to-date information about local business listings. Mani purchased the Mumbai telephone number 2888-8888 to kick off his business.
History Justdial
Mani established Justdial in 1996 with a seed capital of Rs. 50,000, five employees, a few rented computers, and borrowed furnishings after searching for funding for his concept for several years. A mobile app and online database named Justdial.com was introduced in 2007.
Justdial went public on May 20, 2013, at a price ranging from INR 897 to 898. Out of the original 17.5 million shares, 13.5 million were made available to the general public, and the remaining shares—priced at INR 530 per share were distributed to fifteen prior investors.
Growth Justdial
Justdial had pledged to purchase back shares from retail investors at the IPO price if the company’s share price dropped significantly within the first six months to attract retail investment. The majority of fresh investments had come from overseas institutional investors by the time the market closed on the day of the IPO.
Justdial’s share price peaked at INR 1,894.70 on August 5 of the next year before dropping to the triple digits[quantify] in 2015. For $3,497 crore, Reliance Retail purchased a 66.95% share in JustDial on July 16, 2021.
Development Justdial
According to the terms of the agreement, Reliance Retail will own 40.95% and will make an open bid to purchase up to 26% in compliance with takeover rules.
The agreement further stated that VSS Mani would continue to serve as Justdial’s managing director and chief executive and that Justdial would give Reliance access to its merchant database. Users of Justdial’s service get access to a database of business listings by phone or online.
The company also runs two other services: “Search Plus Service,” which handles online transactions via the web and mobile apps, and “Justdial Social,” which gathers content from social networking websites, TV broadcasts, news, and other sources.