India’s Just Dial raises $165 million from secondary share IPO

The search engine provider is the first company to offer a safety-net clause for retail investors, which may have contributed to the decision to fix the price below the top end of the range.

<div style="text-align: left;"> Bollywood legend Amitabh Bachchan promotes Just Dial in a series of TV ads </div>

Anette Jönsson

May 27, 2013

Indian search engine provider Just Dial will raise about Rs9.19 billion ($165 million) from its initial public offering after fixing the price at Rs530 per share, according to sources. The total funds raised include a discount of Rs47 per share for retail investors.

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