Tiger Global sells 2.1% stake in Just Dial for Rs 161-cr

Private equity giant Tiger Global today offloaded 2.1 per cent stake in local search engine Just Dial for a little over Rs 161 crore through an open market transaction.
According to bulk deal data available with the stock exchanges, Tiger Global sold a total of 14.82 lakh shares, amounting to 2.1 percent stake of Just Dial.
The shares were offloaded on an average price of about Rs 1,088 apiece valuing the transaction at Rs 161.24 crore, the data showed.
Meanwhile, another private equity firm Goldman Sachs has picked up 9,75,607 shares of Just Dial for Rs 106.11 crore.
Tiger Global held 11.28 percent stake in the local search engine company at the end of March 31, 2015.

Founded by V S S Mani, the company started offering local search services in 1996 under the Just Dial brand.
Shares of the company closed at Rs 1,086.35 apiece on the BSE today, down 3.09 per cent from the previous close.