Private equity giant Tiger Global exited its investment in local search engine Just Dial for 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 per cent of Just Dial.
The shares were offloaded on May 19 based on the closing price of Rs 1,138.65 and the transaction is estimated to have been valued at Rs 431.49 crore.
On March 30, Tiger Global had offloaded 3.41 per cent in Just Dial for over Rs 300 crore through an open market transaction.
According to BSE data, as of quarter ended March 31, 2015, Tiger Global Four JD Holdings and Tiger Global Five Indian Holdings held 6.96 per cent and 4.32 per cent stake, respectively, in Just Dial.
Founded by VSS Mani, the company started offering local search services in 1996 under the Just Dial brand.
The stock was trading at Rs 1,127 in the morning trade, down 1.02 per cent from its previous close on BSE.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.