VSS Mani, MD and CEO, Justdial Ltd

“Just Dial is planning to raise up to Rs 950 crore through an initial public offer. The Offer will open for subscription on, May 20, 2013 and will close on May 22, 2013.”

May 15, 2013 03:05 IST India Infoline News Service

VSS Mani, MD and CEO, Justdial Ltd discontinued his pursuit of the Bachelor's degree in Commerce from University of Delhi and undertook articleship under a member of the Institute of Chartered Accountants of India. He has over 25 years of experience in the field of Media and local search services.


Justdial is India's No.1 local search engine provides comprehensive updated information on all B2B and B2C Products and Services. The company started offering local search services in 1996 under the Justdial brand and we believe that it is a leading player in a rapidly growing local search market in India. The official website www.justdial.com was launched in 2007. The search service is available to users across multiple platforms, such as the internet, mobile Internet, over the telephone (voice) and text (SMS). Justdial users have contributed 24,626,074 reviews and ratings for various listings, till date.Justdial had approximately 1,95,100 campaigns as of December 31, 2012.


Yash Ved of IIFL provides you the highlights of a media interaction, where V S S Mani says “Just Dial is planning to raise up to Rs 950 crore through an initial public offer. The Offer will open for subscription on, May 20, 2013 and will close on May 22, 2013.”


Brief us about your IPO plans?

Just Dial is planning to raise up to Rs 950 crore through an initial public offer. A discount of 10% to the floor price is being offered to retail individual bidders. The Offer will constitute 25.02% of the fully diluted post-Offer paid-up equity share capital of the Company.


The Offer will open for subscription on, May 20, 2013 and will close on May 22, 2013. The Equity Shares are proposed to be listed on the BSE, the NSE and MCX-SX.


The Book Running Lead Managers (BRLMs) to the Offer are Citigroup Global Markets India Private Limited and Morgan Stanley India Company Private Limited and Karvy Computershare Private Limited is the Registrar to the Offer.


What were the objects of the issue?

The objects of the issue is to achieve the benefits of listing the equity shares and to carry out sale of 17,497,458 equity shares by the selling shareholders. Our company will not receive any proceeds from the offer.


What are your future plans?

We believe that investment in brand building campaign will help us further strengthen our brand and lead to greater search volume from our users and greater number of paid advertisers.


We intend to further develop dedicated category portals to attract SMEs in particular businesses.


We are a local search player and there is no competition to talk about. We see huge opportunity in Online to offline. 


Any plans to go global?

We plan to expand our operations to other markets as opportunity rise by licensing the “Just Dial” brand and selling our rights and offering service arrangements to other parties to conduct these operations as we are doing in US and Canada.


Who are your investors?

SAIF Partners, Sequoia Capital, Tiger Global, EGCS and SAP Ventures have invested in the company


What is your current database listing?

We have a large database of 9.1mn listings as of March 2013.


What will be your promoter holding post IPO?

The company’s promoters currently hold 37.1% of equity shares outstanding.


Post IPO, promoter group will hold 33.1% in Just Dial.


What is your revenue mix?

About 70% of our revenue comes from paid advertisers.


What is your current cash level?

The company has cash reserves of nearly Rs.4.75bn.


Brief us about your Financials?

Our consolidated total revenue from continuing operations increased in fiscal 2012 by 47% over fiscal 2011.


While our consolidated restated profit after tax from continuing operations increased from Rs17.1mmn in fiscal 2008 to Rs522.8mn in fiscal 2012.

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