Justdial valued at USD 655mn with issue price at INR 530

The much unexpectedly successful IPO of this year, Just Dial has fixed an issue price of INR 530 per share for the IPO subscribers as reported by Business standard. For retail investors, the shares will be available at INR 483 with 10% discount.

The issue was opened for subscription from May 20 – 22 at a price band of INR 470- INR 543 and was subscribed almost 12 times.

At the current IPO price, the company will be having a valuation of around $655 million in terms of market capitalization. Just Dial will be raising an amount of around INR 920 crore with this issue for its existing shareholders holders SAIF Partners, Tiger Global, Sequoia Capital and SAP Ventures.

To be pointed out, this was initially an offer for sale by the existing shareholders. After the public issue, the current holding of promoter group led by the Just Dial founder VSS Mani has came down from 37.15% to 33.13 % .