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The initial public offer (IPO) of Just Dial has garnered 20 anchor investors
These investors have picked up 3.9 million shares at a price of Rs 530 per share, according to an exchange notification.
The investors include Fidelity Funds – Emerging Asia Pool, HDFC Capital Builder Fund, Birla Sun Life Midcap Fund, DSP BlackRock Fund and Deutsche Securities.
The Just Dial IPO is open from May 20 to May 22. The company seeks to sell 25.02% stake or 17.4 million shares. The price band has been set at between Rs 470-543, per share.
The issue offers a safety net and a ten% discount for retail investoRs However, some analysts have suggested that the stock is expensively valued.
An Aditya Birla Money IPO note dated 17th May noted that the shares are not cheap.
“….We accept that the business model is efficient and has good growth prospects; however, the valuation premium JDL is demanding is very steep,” said the report authored by Dinesh Kumar K.
The Book Running Lead Managers (BRLMs) to the Offer are Citigroup Global Markets India Private Limited and Morgan Stanley India Company Private Limited and Karvy Computershare Private Limited is the Registrar to the Offer.
