Ravi Adusumalli, Managing Partner at SAIF Partners, is no longer on the board of directory services company JustDial. JustDial informed the Bombay Stock Exchange that Adusumalli, who was a "Non-Executive and Non Independent Director of the Company, has ceased to be a director of the Company with effect from May 27, 2016." SAIF was one of JustDial's key investors. It had initially invested Rs 55 crore in JustDial in 2006, and followed up with investments made along with Tiger Global, Sequoia Capital and SAP Ventures.SAIF still owns 7.2% in the company. Other investors include Sequoia Capital India and Fidelity. At the time that JustDial went in for an IPO (Source: DRFP, PDF), SAIF held 19.72% stake (13,777,232 shares) in the company, and sold around 43% (5,951,231 shares) of that holding as a part of the IPO, leaving it with 7,826,001 shares, around 11.2% of the company. A Mint report says that SAIF made 12x returns on its investment with that exit. In March this year, by selling 94,179 shares during JustDial's buyback, SAIF brought the holding of its SAIF II Mauritius fund down to 0.14% from 8.84%. All in all, JustDial bought back around 1.06 million shares for Rs 164.53 crore, at Rs 1,550 per share. Tiger Global has exited JustDial completely, selling 3.4% in March 2015, and 5.4% and 2.4% in May 2015. Financials JustDial reported an operating revenue of Rs 179.61 crore, up 15% year-on-year (YoY), for the quarter ended March 2016 (Q4 FY16). Sequentially, operating revenues were up 4.83% from Rs 171.33…
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