HDFC Mutual fund sells 2.73% stake in Just Dial for over Rs 108 cr

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HDFC Mutual Fund has offloaded 2.73 per cent stake in local search engine Just Dial for over Rs 108 crore through an open market transaction.

According to a regulatory filing, the schemes of HDFC Mutual Fund, which held an 8.33 per cent stake in Just Dial earlier, sold 1,690,653 shares constituting a 2.73 per cent stake in the open market transaction.

The shares were offloaded on February 24, 2021.

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Based on the weighted average price of Rs 639.60 of the stock on the sale day, the transaction is estimated to be around Rs 108.15 crore.

Post the transaction, shareholding of the schemes of HDFC Mutual Fund in Just Dial stood at 5.60 per cent.

Shares of Just Dial were trading 4.36 per cent lower at Rs 734 apiece on BSE.