Proxy advisory firm Stakeholders Empowerment Services (SES) has criticised the demerger scheme proposed by Justdial ( JDL) and has asked its shareholders to vote against the move. Under the scheme, Justdial proposed to demerge some businesses of Just Dial Global(JDGL) and absorb them itself.
A court convened meeting of shareholders and creditors has been called on Tuesday to clear the scheme.
JDGL is a private limited company, established in 2010 to work as a call centre and advertiser for domestic as well as international markets. It has an issued share capital of Rs 1.13 crore. The justdial stock, which was trading around Rs 480 levels before the announcement in August, closed at Rs 370 on Friday. …
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