The initial public offer (IPO) of Just Dial received bids for 5.03 crore shares till 16:00 IST on the last day of the bidding for the IPO today, 22 May 2013. The IPO was subscribed 3.72 times. The price band for the IPO is fixed at Rs 470 to Rs 543 per share.
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. 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 were allotted 4 lakh shares each. Deutsche Securities Mauritius was allotted 3.62 lakh shares and FID Funds (Mauritius) was 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).
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