Online directory Just Dial today filed its Draft Red Herring Prospectus (DRHP) with the market regulator Sebi to raise as much as Rs 360 crore through an initial public offer offering (IPO).
Just Dial, which caters to over 57 million unique users spread across 240 cities in India, provides local search service, through various channels - phone, web, WAP and SMS.
The company plans to sell 10.6 lakh fresh equity shares. At least 50% of the issue shall be allotted on a proportionate basis to qualified institutional buyers, not less than 15% of the issue shall be available for allocation on a proportionate basis to non-institutional bidders and not less than 35% of the issue shall be available for allocation on a proportionate basis to retail individual bidders, the company said in a press release.
Citigroup Global Markets India and Morgan Stanley India are the book running lead managers to the issue