Just Dial files IPO papers with SEBI again
Local search services provider Just Dial has filed draft red herring prospectus (DRHP) with the SEBI again, for public offer of 95.54 lakh equity shares, diluting 13.53% stake. It is an offer for sale by selling shareholders; therefore the company will not get any IPO money.
August 21, 2012 / 18:36 IST
Local search services provider Just Dial has filed draft red herring prospectus (DRHP) with the SEBI again, for public offer of 95.54 lakh equity shares, diluting 13.53% stake. It is an offer for sale by selling shareholders; therefore the company will not get any IPO money.
Earlier, it had filed IPO papers in August 2011, which included fresh issue of Rs 360 crore and an offer for sale of 1.06 crore shares by selling shareholders.The company provides users of "Just Dial" search service with information and user reviews from database of local businesses, products and services across India. In fiscal 2012, it addressed over 25.43 crore search queries across platforms. As of June 30, 2012, the company was conducting approximately 181,000 campaigns for its paid advertisers.Promoters will continue to hold 37.39% stake in the company, which includes VSS Mani's 30.72% stake. Sequoia III, SAIL, Tiger Global Four JD Holdings, Tiger Global Five Indian Holdings, EGCS and SAPV will dilute their stake through this public issue. In the year ended March 31, 2012, Just Dial has reported a growth of 75% year-on-year to Rs 50.422 crore on total revenue growth of 46.66% to Rs 275.215 crore. During the same period, cash and cash equivalents stood at Rs 21.45 crore.Citigroup Global Markets India Private Limited and Morgan Stanley India Company Private Limited are the book running lead managers to the issue. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
