JustDial shares opened for trading at the National Stock Exchange at Rs 590, an 11.3% premium to its offer price of Rs 530, and at the time of writing this post, it was trading at Rs 620.95, up Rs 90.95, around 17.16% higher than its offer price. The day has so far seen the share priced at a peak of 631.90, and a low of Rs 581.15, still at a premium to its offer price.
Justdial has a free-float (for trading) of 17,497,458 shares, at a total of 69,872,750 shares outstanding. At the days high of Rs 631.90, the free float market cap would be Rs 1105.66 crore (around $199.02 million), and its total market cap (including shares not available for trading) would be Rs 4415.25 crore (around $794.47 million). At the days low of Rs 581.15, JustDial’s free float would be valued at Rs 1016.86 crore ($183.04 million), while its total market cap would be Rs 4060.65 crore (around $730.91 million).
As per our calculations, Justdial would reach a billion dollar valuation at a price of around Rs 795.1, at a 50% premium to its offer price of Rs 530.
The JustDial IPO had been oversubscribed by 12 times, with institutional investors bidding for more than 10 times their allocation, retail investors bidding for 3.3 times their quota, and HNI bidding for 22 times their allocation. 15 Anchor investors had subscribed to 3,936,925 shares at Rs 530 per equity share at the time of listing, for a total of around Rs 208.65 crore. Details here.