The stock opened at Rs 590, a premium of 11.32% to the initial public offer (IPO) price. So far the stock hit a high of Rs 631.90 and low of Rs 589. On BSE, 23.93 lakh shares were traded on the counter.
Local search engine Just Dial's IPO closed on 22 May 2013. It received bids for 15.77 crore shares. The IPO price band was set at Rs 470 to Rs 543 per share. The company priced the IPO at Rs 530 per share, but offered a discount of Rs 47 on the issue price to retail investors.
The company did not get any funds from the IPO, as the issue comprised of an offer for sale of 1.74 crore equity shares by some existing shareholders. The company's existing investors, including SAIF Partners, Tiger Global, Sequoia Capital and SAP Ventures, sold a part of their holdings through the IPO.
Investor category-wise data showed that the qualified institutional buyers (QIBs) category was subscribed 10.12 times. The non-institutional investors' category was subscribed 22.34 times and the retail investors' category was subscribed 3.53 times.
The company had on 17 May 2013, announced the 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).
Just Dial reported a profit after tax (PAT) of Rs 47.08 crore and sales of Rs 264.50 crore in the nine-months ended December 2012.
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