With 17.5 million up of grabs in the issue, the company has raised a total investment of around Rs 925 crore for their existing institutional investors including SAIF Partners, Tiger Global, Sequoia Capital and SAP Ventures and its promoter and founder, VSS Mani, as indicated the report. It also notes that the promoter group holding in Justdial has reduced to 33.13% from 37.15% prior to the IPO.
Justdial’s IPO closed its subscription on May 22, 2013, with bids being subscribed nearly 12 times over. The categories of high net worth individuals (HNIs) category was subscribed 22 times and institutional investor quota comprising of 75% of the offering was subscribed 10 times, while retail category was subscribed 3.5 times. It is worth noting that HNIs don’t really have a safety and yet the category has been subscribed 22 times.
We had earlier reported that retail investor participation increased almost five fold after a fairly low key participation on day one of JustDial’s IPO: Total bids from retail investors increased to 1,224,725 shares at the end of day 2, up from 246,200 at the end of day 1. So around 70% of the total 1,749,745 shares that retail investors are allowed, were bid for. However, the bid concluded with retail category being subscribed 3.5 times.
Our Justdial IPO Coverage
– JustDial IPO Fully Subscribed, 12x Bids Are In
– JustDial IPO Bids At 70% On Day 2
– JustDial IPO Bids At 50% On Day 1; Anchor Investors Invest Rs 208 Cr
– JustDial IPO: On PE, EPS, Profit, Safety Net
– JustDial Gets SEBI Approval For IPO
– JustDial Re-files For An IPO