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Aug 26, 2010, 10.42 PM IST | Source: Moneycontrol.com

Just Dial may float Rs 700 cr IPO: VCCircle

Backed by private equity majors SAIF Partners, Sequoia Capital and hedge fund Tiger Global, Mumbai-based local search firm Just Dial may float a Rs 700 crore initial public offer, reports CNBC-TV18 quoting VCCircle. The company is likely to file the draft red herring prospectus (DRHP) by end of this year.

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Backed by private equity majors SAIF Partners, Sequoia Capital and hedge fund Tiger Global, Mumbai-based local search firm Just Dial may float a Rs 700 crore initial public offer, reports CNBC-TV18 quoting VCCircle. The company is likely to file the draft red herring prospectus (DRHP) by end of this year. It is also being learnt that the proceeds will be used to fund its India operations as well as its global expansion plans.

The IPO, which will be one of the largest in the country, will enable investors to make partial exit, the company said confirming the development.

READ MORE ON  Just Dial, CNBC-TV18, VCCircle

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