PE-backed Just Dial targets $79m IPO
Indian search engine Just Dial is planning a INR3.6 billion ($79 million) IPO that will allow its private equity backers to make full or partial exits. A draft prospectus filed with the Securities and Exchange Board of India indicates that offering will comprise a combination of new and existing shares.
Private equity firms hold about 55% of Just Dial, with SAIF Partners, Sequoia Capital and Tiger Global owning stakes of 21.58%, 12.73% and 21.84%, respectively. Bollywood star Amitabh Bachchan has a small...
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