Mumbai: Just Dial said on Monday it will raise up to 9.5 billion rupees (USD 173.72 million) through an initial public offer, which is scheduled to be launched on May 20.
The Mumbai-based local search firm, which is backed by Sequoia Capital and Tiger Globe, will sell 17.5 million shares priced between 470 rupees and 543 rupees each, it said in a statement.
The issue will close on May 22. The offer constitutes 25 percent of the fully-diluted post-offer paid-up equity capital of the company and retail investors would get a 10 percent discount on the issued price, the company said.
Citigroup and Morgan Stanley are the lead managers to the issue, it said.


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