Mumbai-Based Search Engine Just Dial Ltd. Aims To Launch Initial Public Offering In India

 @MikeObelm.obel@ibtimes.com
on March 27 2013 7:38 AM

Just Dial Ltd., a search engine based in Mumbai, India, aims to launch an initial public offering, perhaps as soon as next month, according to a report published Wednesday.

The search engine, which could have an IPO in the next 20 days, draws from a national database of local businesses, services and products to give users information and user reviews, the Wall Street Journal said.

The IPO, being managed by Citigroup Inc. (NYSE:C) and Morgan Stanley (NYSE:MS), would offer approximately a quarter of outstanding stock, or about 17.36 million shares, which have a face value of 10 rupees (18 cents).

Just Dial founders, hedge fund Tiger Global Management LLC, private equity firms SAIF Partners, Sequoia Capital and SAPV (Mauritius) aim to sell part of their holding in the company.

 

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