Justdial which is a local search engine is going to buyback equity shares for up to Rs 84 crore from its shareholders at a price not exceeding Rs 700 per share.

Justdial has said in a regulatory filing that its Board of Directors “considered and approved the proposal to buyback of the company’s fully paid-up equity shares.”

As per the filing, the company is going to buyback the shares for a “total amount not exceeding Rs 83.91 crore, and a at a price not exceeding Rs 700 per equity share.”

It added that the company would be purchasing a maximum of 11.98 lakh shares or around 1.72 percent of the existing paid-up equity share capital, at the maximum buy back price ,from the shareholders.

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