JUSTDIAL · Just Dial Limited · BSE · Filed 5 Oct · 1 min read

Just Dial: Promoter Shifts Encumbered Block to Reliance Retail Ventures

Founder V.S.S. Mani created an encumbrance on his shares while an equal block held by Eshwary Krishnan was released, both in favour of Reliance Retail Ventures Limited.

What was filed

On October 2, 2026, V.S.S. Mani filed a disclosure with Just Dial Limited and the stock exchanges under Regulation 31(1) and 31(2) of the SEBI (SAST) Regulations, 2011, for events dated September 28, 2026.

Two offsetting movements are reported. An encumbrance was **created** on shares held by V.S.S. Mani, and an encumbrance was **released** on an equal number of shares held by Eshwary Krishnan. In both cases the entity named is Reliance Retail Ventures Limited, which the filing identifies as a promoter of the company.

The context in the filing

The filing attributes the encumbrance to the Shareholders Agreement dated July 16, 2021, under which shares held by several named promoters are encumbered. The reason for each event is stated only as "Others," with a reference to that note.

The disclosure also carries the full promoter holding table, listing V.S.S. Mani, Eshwary Krishnan, Ramani Iyer, Anita Mani, V. Krishnan and Manasi Iyer. It records that there is no encumbrance on shares held by Reliance Retail Ventures Limited itself.

V.S.S. Mani post-event encumbered holding: 67,07,834 shares (7.89% of total share capital)
V.S.S. Mani total holding: 64,68,187 shares (7.61%)
Shares released (release) — Eshwary Krishnan: 2,39,647 shares (0.28%)
Eshwary Krishnan post-event encumbered holding: Nil
Anita Mani holding: 19,25,345 shares (2.26%)
Manasi Iyer holding: 1,33,975 shares (0.16%)

Encumbrance disclosures track the extent to which promoter shares are pledged, lien-marked or otherwise constrained. This filing documents the shift of an identical block between two promoter holders, both in favour of Reliance Retail Ventures Limited under the 2021 Shareholders Agreement. The reason is stated only as "Others," and the underlying commercial terms are not disclosed.