One of India’s leading local search engine, Just Dial Limited (“Company”) has filed a fresh Draft Red Herring Prospectus with the Securities and Exchange Board of India for an initial public offer (“Offer”).
The Company plans to undertake the Offer through an offer for sale of 9,554,307 equity shares of a face value of Rs. 10 each by certain selling shareholders and achieve listing of its equity shares on the stock exchanges. In July 2012, the Company raised approximately [Rs. 251 crore] from private equity investors Sequoia Capital India Growth Investment Holdings I & SCI Growth Investments II.
The Offer will be undertaken through the book building process. At least 50% of the Offer shall be allotted on a proportionate basis to qualified institutional buyers, not less than 15% of the Offer shall be available for allocation on a proportionate basis to non-institutional bidders and not less than 35% of the Offer shall be available for allocation on a proportionate basis to retail individual bidders.
Citigroup Global Markets India Private Limited and Morgan Stanley India Company Private Limited are the book running lead managers to the Offer.