Just Dial re-files for IPO, VCs plan partial exit
Just Dial, the Indian online listings provider, has filed for a domestic IPO that will see its venture capital investors exit a portion of their holdings. After an earlier attempt to list was shelved due to market uncertainty, the company completed a fifth round of VC funding in what was seen as a move to raise capital required to sustain business operations until the IPO could be restarted.
Just Dial plans to sell 9.55 million shares, with the India units of Citigroup and Morgan Stanley serving as lead managers. Some reports suggest the offering could value the firm at more than INR40 billion...
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