Ramani Iyer Files SEBI Takeover Disclosure for Substantial Acquisition in Just Dial Limited

M&A / JV 19 Jun 2026 · Filed / open· ✓ Verified

The disclosure was filed by Ramani Iyer with the NSE under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, Regulation 31(4), which requires mandatory disclosure when a person acquires 5% or more of shares or voting rights in a listed company. Just Dial Limited is a major Indian online directory and local search platform listed on NSE. The exact stake percentage and consideration remain undisclosed in the Bar & Bench report, but the regulatory filing signals the commencement of formal acquisition formalities. The disclosure triggers a 60-day open offer regime unless an exemption under Regulations 10 or 11 is available (e.g., acquisition from promoter,…

Why it mattersRegulation 31(4) disclosures lock in a 60-day open offer timeline if the acquirer intends to go above 26% or seek exemption; practitioners must immediately review the acquisition method (direct purchase, creeping, or conditional) and exemption eligibility under Regulation 10(1) or 10(3) to structure the avoidance or satisfaction of the open offer.
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