Just Dial Buyback Review, Offer Details, Price, Dates, Size & more

In this article, they will discuss about Just Dial Limited Buyback offer, buyback price, buyback size, Just Dial Buyback record date, company financial, buyback necessity and its impact on company.

Just Dial Limited Buyback Details

Buyback TypeOpen Market
Opening DateAugust 4, 2020
Closing DateAugust 17, 2020
Buyback Offer AmountRs.220,00,00,000
Buyback No. of Shares31,42,857
Face ValueRs.10
Date of Buyback ApprovalJune 23, 2020
Date of Public AnnouncementJune 25, 2020
Buy Back PriceRs.700
Buy Back Premium87.18%
Date of Board MeetingApril 30, 2020

Just Dial Buyback Opening and Closing Date

The starting and closing date of this buyback is from August 4, 2020 to August 17, 2020.

Just Dial Buyback Cash Offer

Cash Offer to Buy-back up to 31,42,857 fully paid-up equity shares of the Company of face value of Rs.10 each, representing 4.84% of the total number of equity shares.

Just Dial Buyback Record Date

The decided record date is JULY 3, 2020.

Just Dial Buyback Price

At a price of Rs.700 per Equity Share.

Just Dial Buyback Size

At a buyback price of Rs.700 payable in cash for an aggregate maximum amount of Rs.220,00,00,000.

Just Dial Limited Buyback Acceptance Query

You can check for Buyback Acceptance query here. Just click on the given link and it will redirect you to buyback acceptance query page.


Just Dial Limited Buyback Acceptance Ratio

Find profit & profit percentage based on various acceptance rate, The profit is calculated based on 1000 shares.

Acceptance RatioTotal Shares AcceptedBuyback PriceBuyback AmountProfitProfit%
20%2007001400006494017.30%
40%40070028000012988034.61%
60%60070042000019482051.91%
80%80070056000025976069.21%
100%100070070000032470086.52%

Profit is calculated from July 29, 2020 share price i.e. Rs.375.30 per share of Just Dial Limited.

According to the above table, if a shareowner applies for 1000 shares of Just Dial limited & gets 20% acceptance from the company and the owner with 1000 shares will sell 200 shares @ Rs.700 per share & receive Rs.64940 as profit amount & 17.30% profit percentage on selling these 200 shares back to the company.

Similarly, if the owner gets 60% acceptance of share from the company, the owner will sell 600 shares @ Rs.700 & receive a profit of Rs.194820 @ 51.91% profit percentage.


Just Dial Limited Buyback Overview

Just Dial BuybackJust Dial Limited provides local search related services to users in India through multiple platforms such as desktops, personal computers, website (https://www.justdial.com), mobile site (https://t.justdial.com), mobile apps (Android, iOS, Windows), over the telephone (voice, pan India number 88888-88888) and text (SMS).

Justdial has recently launched the latest version of its JD App, which is an ‘All-in-One App’, containing features such as map-aided search, live TV, videos, news and real time chat messenger, to ensure that the consumer is more engaged with the services provided by the Company.

The Company’s system allows it to promptly process user inquiries and requests and continually monitor the performance of its sales and customer service representatives, including the average time per call taken by its information retrieval officers.


Company Finances – Just Dial Limited

The brief audited consolidated financial information of the Company for the last three financial years are provided below:

[In Rs. Lakhs]

Particulars12 Months period ended March 31
(Audited)
202020192018
Total Income1,09,28298,44684,763
Total Expenses (excluding depreciation)68,91066,27061,735
Depreciation5,2073,3653,642
Profit before tax35,16528,81119,386
Provision for tax
(including Deferred Tax)
7,9348,1315,068
Profit /(Loss) after tax27,23120,68014,318
Equity Share Capital6,4916,4766,739
Other Equity1,22,25693,38791,181
Networth1,28,75899,87497,931
Total Debt420

Just Dial Limited Buyback Dates

Date of Board Meeting approving the BuybackApril 30, 2020
Date of publication of Public Announcement for BuybackJune 25, 2020
Record Date for determining the Buyback Entitlement and the names of Eligible ShareholdersJuly 3, 2020
Buyback Opening dateAugust 4, 2020
Buyback Closing dateAugust 17, 2020
Last Date of verification of Tender Forms by the RegistrarAugust 25, 2020
Last date of intimation regarding acceptance / non-acceptance of Tendered Equity Shares to the BSE Limited by the RegistrarAugust 25, 2020
*Last date of Settlement of Bids on the BSE LimitedAugust 26, 2020
Last date of return of unaccepted Equity Shares by BSE LimitedAugust 26, 2020
*Last date of Extinguishment of Equity SharesSeptember 2, 2020

Details of Public Announcement

The Public Announcement dated June 24, 2020 was published on June 25, 2020 in the following newspapers, in accordance with Regulation 7(i) of the Buyback Regulations, within two working days from the date of declaration of results of the Postal Ballot or special resolution i.e. June 23, 2020:

PublicationLanguage
Financial ExpressEnglish
JansattaHindi
NavshaktiMarathi

Necessity of Just Dial Limited Buyback

The Company’s management strives to increase the Equity Shareholders’ value and the Buyback would result in the following benefits, amongst other things:

  1. optimizing returns to shareholders;
  2. enhancing overall shareholder value;
  3. achieving optimum capital structure;
  4. mitigating the effects of short-term market volatility; and
  5. enhancing Shareholders’ confidence.

Impact of Just Dial Limited Buyback on the Company

They believe that the Buy-back is not likely to cause any material impact on the profitability or earnings of the Company except to the extent of reduction in the amount available for investment, which the Company could have otherwise deployed towards generating investment income.

The Buy-back will not result in any benefit to Promoters or any Directors of the Company except to the extent of the cash consideration received by them from the Company pursuant to their respective participation in the Buy-back in their capacity as equity shareholders of the Company

The Buy-back shall not result in a change in control or otherwise affect the existing management structure of the Company.

Salient financial parameters consequent to the Buyback based on the latest audited financial statement of the Company for the half year ended March 31, 2019 are as under:

Parameters (based on audited standalone financial statements for year ended March 31, 2020)Pre Buy-backPost Buy-back
(Assuming Full Acceptance)
Net worth (Rs in Lakhs)1,28,7581,06,758
Return on Net worth (%)21.1525.51
Earnings Per Share (Rs)42.0044.14
Book Value per Share (Rs)185.7159.5
Total Debt / Equity Ratio

Basis of Calculating Just Dial Buyback Price

The Equity Shares of the Company are proposed to be bought back at a price of Rs.700 per Equity Share.

The Buy-back Offer Price has been arrived at after considering various factors, including the volume weighted average prices /closing prices of the Equity Shares of the Company on NSE and BSE, where the Equity Shares are listed and traded, the net worth of the Company and the impact of the Buy-back on the earnings per Equity Share.

The Buyback Price represents

  • a premium of 87.18% on BSE and 73.49% on NSE over the volume weighted average price of the Equity Shares on BSE and NSE, respectively for three months preceding the date of intimation to the Stock Exchanges for the Board Meeting to consider the proposal of the Buy-back;
  • a premium of 109.38% on BSE and 108.39% on NSE over the volume weighted average price of the Equity Shares on BSE and NSE respectively for two weeks preceding the date of intimation to the Stock Exchanges for the Board Meeting to consider the proposal of the Buy-back; and
  • premium of 100.83% on BSE and 100.77% on NSE over the closing market price of the Equity Shares on BSE and NSE as on April 27, 2020 i.e. the date of intimation to the Stock Exchanges for the Board Meeting to consider the proposal of the Buy-back.

The closing market price of the Equity Shares as on the date of intimation to the Stock Exchanges of the results of the Board meeting approving the Buy-back, was Rs.406.00 on BSE, and Rs.404.90 on NSE. The Buy-back Offer Price is a premium of 376.97% over the Company’s book value per Equity Share of Rs.185.7, prior to the Buy-back, as at March 31, 2020.


Source of Funds for the Buyback

Assuming full acceptance, the Company would utilize its current surplus and/or cash balances and/or internal accruals for the purpose of the Buy-back.

The Company has confirmed that the funds for the Buy-back will be made available from its current surplus and/or cash balances and/or internal accruals, and on such terms and conditions as the Board or a duly constituted committee thereof may decide from time to time in compliance with applicable provisions of the Companies Act and Buy-back Regulations, in the absolute discretion as it may deem fit.

The Company shall transfer a sum equal to the nominal value of the Equity Shares bought back through the Buy-back to the capital redemption reserve account and the details of such transfer shall be disclosed in its subsequent audited balance sheet. This Company will not be using any borrowed funds for the Buy-back.


Just Dial Limited – Manager to the Buyback

Nomura Financial Advisory and Securities (India) Private Limited
Ceejay House, Level 11, Plot F, Shivsagar Estate, Dr. Annie Besant Road, Worli, Mumbai 400 018
Tel: +91 22 4037 4037
Fax: +91 22 4037 4111
Contact Person: Vishal Kanjani
E-mail: justdialbuyback@nomura.com
SEBI Registration Number: INM000011419
Validity Period: Permanent

Just Dial Limited – Registrar to the Buyback

KFin Technologies Private Limited (formerly known as Karvy Fintech Private Limited) Selenimum,
Tower B, Plot Number 31 and 32, Financial District, Gachibowli, Nanakramguda, Serilingampally Mandal,
Hyderabad 500 032 Telangana
Tel: +91 40 6716 2222
Fax: +91 40 2343 1551
Contact Person: M Murali Krishna
E-mail: justdial.buyback20@kfintech.com
SEBI Registration Number: INR000000221
Validity Period: Permanent

Just Dial Limited Contact Details

Company Contact Details
JUST DIAL LIMITED
Corporate Identity Number: L74140MH1993PLC150054
Registered Office: Palm Court, Building-M, 501/B, 5th Floor, New Link Road, Besides Goregaon Sports Complex, Malad (West), Mumbai 400 064, Maharashtra
Tel. No.: +91 22 2888 4060; Fax: +91 22 2889 3789
Website: www.justdial.com; E-mail: investors@justdial.com
Contact Person: Manan Udani, Company Secretary and Compliance Officer

 


Just Dial Limited Buyback News

News 1 – Buyback PDF / Draft Letter of Offer [Download]

News 2 – Just Dial Ltd – Public Announcement


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