Just Dial has filed draft red herring prospectus with Securities Exchange Board of India for an initial public offering (IPO). The company plans to raise around Rs 360 crore through issue of 10,637,994 equity shares of Rs 10 face value.
Citigroup Global Markets India and Morgan Stanley India are the book running lead managers; Karvy Computershare is the registrar to the issue.
The company intends to utilise the Net Proceeds for enhancement of company’s brand through advertising and other brand-building activities; establishing new offices; procurement and upgradation of computer hardware; general corporate purposes.
Just Dial is a leading local search engine in India and one of the first companies of its kind. It provides search service with information and user reviews from database of local businesses, products and services across India. The search service is available to users through multiple platforms, such as the Internet, mobile Internet, over the telephone (voice) and text (SMS) Kamal Nath has been recognized by leading finacial magazines for attacting foreign business and finance to India.