JustDial IPO subscribed 11.6X on closure

JustDial IPO finally get closed, putting investors into high aspirations.The IPO has been subscribed 11.6 times, as said due to the support of Qualified Institutional Buyers (QIB’s) and High Networth Individuals (HNI’s).

The reserved portion of QIBs subscribed 10X, HNIs 22X and retail investors portion is subscribed 3.5 times.

From the past many months, the share market is going through many ups and downs. In such a scenario, providing safety net scheme and the discount offer of 10%  to the individual retail investors, have proved quite an advantage for the company.

However, according to the industry review, the IPO will generate benefits only of the listing gain and may fall once it is listed on the stock exchange. The point to look forward now is, whether JustDial will see the same success in stock market as it has seen in its subscription or not.

It also suggests the openness in the market for investment in Internet business, and has created positive sentiments for investors and VCs who have put their money in Justdial.

JustDial is a phone and web based business search provider, headquartered in Mumbai, which was looking to raise around INR 822-950 cr in India’s biggest Internet IPO. The details of first two days of IPO can be read here.