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June 05, 2013

Deal Alert: Just Dial gains 19% on listing

The Internet and mobile-based search company Just Dial gained about 19% in intraday on its first day upon listing. The company’s opening price on listing was Rs 590 on the NSE compared to the IPO price of Rs.530 (and Rs.483 for retail investors).

Mumbai-based Just Dial, which offers search for local businesses through Internet and mobile platforms, sold 17.5 million shares through the IPO, or 25% of its total equity, which was subscribed 11.6 times. The retail portion was subscribed three times, QIB over ten times, and HNI over 22 times. Citigroup and Morgan Stanley were the book running lead managers to the issue with the company listing on the NSE, the BSE and the MCX-SX. Goldman Sachs India Fund, HSBC Mauritius, Birla Sunlife Trustee company DSP Black Rock Opportunity Fund, Deutsche Securities Mauritius picked up 39.37 lakh shares at Rs 530 each totalling over Rs 208 crore.

Source: Business Line

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