Tiger Global which had first invested in Justdial eight years back, takes a complete exit from India’s local search engine with over Rs 430 crore through an open market transaction.
According to a BSE filing, Tiger Global Four JD Holdings and Tiger Global Five Indian Holdings sold 37.89 lakh shares, representing 5.37% of Justdial.
Based on the closing price of Rs 1,138.65, the shares were given out on May 19. The estimation of the transaction has been valued at Rs 431.49 crore.
Notably, on March 30, Tiger Global had offloaded 3.41% in Justdial for over Rs 300 crore through an open market transaction.
As per the BSE data, Tiger Global Four JD Holdings and Tiger Global Five Indian Holdings held 6.96 % and 4.32 %stake, respectively, in Justdial as of as of the quarter ended March 31, 2015.
Last year, SAIF and Sequoia Capital also took a part-exit from Justdial, reports ET.Category Business