On Monday, Tiger Global offloaded 3.41% stake in mobile and online listings business JustDial for over 300 crore through a stock market transaction. Tiger Global sold a total of 24 lakh shares, amounting to 3.41% stake in JustDial and estimated to have clocked around 20x returns on its investment. This is lower than the 30x returns SAIF Partners had made in 2014 when it sold part of its stake in the company for Rs 254 crore. Sequoia Capital also made the similar returns when it part-exited JustDial by selling a 0.5% stake.
Yesterday, shares of the company grew 0.84% to settle at Rs 1,319.70 apiece on BSE.
Tiger Global held 13.22% stake in the local search engine company at the end of December 31, 2014. Meanwhile, another private equity firm Goldman Sachs has picked up 19,40,098 shares of JustDial for Rs 24,290 crore.
Founded by VSS Mani in 1994, JustDial is a local search firm that provides both B2C and B2B of small and medium businesses across the country. It provides services across multiple platforms including internet, phones, wireless and print.Category Investments