Just Dial IPO subscribed 50%

The initial public offer (IPO) of Just Dial IPO received bids for 67.83 lakh shares till 16:00 IST on the first day of the bidding for the IPO today, 20 May 2013. The IPO was subscribed 0.50 times. The issue closes on 22 May 2013.

The IPO comprises of an offer for sale of 1.74 crore equity shares by some existing shareholders and the company will not get any funds from the IPO. The company's existing investors, including SAIF Partners, Tiger Global, Sequoia Capital and SAP Ventures, are selling a part of their holdings through the IPO. The price band for the IPO has been fixed at Rs 470 to Rs 543 per share. A discount of Rs 47 per equity share is being offered to retail individual bidders.

The board of directors of Just Dial on Friday, 17 May 2013, finalized allocation of 39.36 lakh equity shares to a total of 15 anchor investors at Rs 530 per share. Among the anchor investors, Eastspring Investments-India Equity fund, HSBC Bank (Mauritius), Baytree Investments (Mauritius) Pte and IVY Pacific Opportunities Fund will be allotted 4 lakh shares each. Deutsche Securities Mauritius will be allotted 3.62 lakh shares and FID Funds (Mauritius) will be allotted 3.05 lakh shares.

Just Dial is one of the leading local search engines in India. It provides users of "Just Dial" search service with information and user reviews from its database of local businesses, products and services across 11 major cities in India. Its search service is available to users through multiple platforms: internet, mobile internet, telephone (voice) and text (SMS).

Powered by Capital Market - Live News