Just Dial IPO gets 1.77 times subscription

Just Dial IPO seems to have really gained its pace. The public issue has been fully subscribed on its closure day today.

The issue has been subscribed 1.77 times so far, with reserved portions of QIBs subscribed 2.3 times and retail 1.1 times. The success of IPO is said to have been mainly due to the support of QIBs and retail investors.

It received 70% subscription by the end of day 2.

The cut-off price of the issue may get somewhere around 496, as seen from market analysis.

Just dial is Mumbai based search engine, which was looking to raise around INR 822-950 cr in India’s biggest Internet IPO this year.