Ramani Iyer discloses substantial acquisition intent in Just Dial under SEBI Takeover Code

M&A / JV 19 Jun 2026 · Announced· ✓ Verified

Ramani Iyer's submission of the Regulation 31(4) disclosure to NSE indicates a substantial acquisition event-either a 5% or greater shareholding trigger or a formal intention to acquire control of Just Dial Limited. Under the SEBI Takeover Regulations, 2011, this disclosure must be made within 48 hours of the trigger event and must be followed by a formal open offer notice within 6 weeks, during which all shareholders have equal opportunity to tender shares at the offer price. The filing is the formal gate for regulatory oversight of the transaction.

Why it mattersThe Regulation 31(4) disclosure (within 48 hours of crossing the 5% threshold or announcing intent) triggers a 4-6 week open offer process; acquirers must file detailed shareholding, funding sources and offer rationale, and the target company obtains a brief window to seek competing bids or advisories-a critical procedural gate in Indian M&A.
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