Tiger Global has sold a further 2.1% stake in JustDial for Rs 162 crore through open market transactions, reports Techcircle. Following this partial exit, Tiger Global’s stake in the online directory services company will stand at about 6.9%. The investor had previously offloaded 3.4% stake in JustDial for Rs 300 crore in March and is believed to have sold a partial stake during JustDial’s 2013 IPO as well. The Techcircle report also mentions that SAIF Partners and Sequoia Capital, the other JustDial investors, had made partial exits over the past few quarters. SAIF Partners’ part-exit generated around Rs 254 crore for the private investment firm. Tiger Global invested about Rs 77 crore in JustDial in 2007 and a further Rs 30 crore in 2009. Sequoia Capital had invested $8.2 million in 2009, $10 million along with SAP Ventures in 2011, and a further Rs 305 crore in 2012. As of June 2012, the PE firms Tiger Global, Sequoia Capital, SAIF Partners, SAP Ventures and EGCS held close to 60% stake in the company. JustDial had raised a total investment of around Rs 925 crore from its existing institutional investors including SAIF Partners, Tiger Global, Sequoia Capital and SAP Ventures and its promoter and founder VSS Mani, during the 2013 IPO. It’s worth noting that the promoter group holding in JustDial reduced to 33.13% from 37.15% prior to the IPO. Last year, the JustDial board of directors approved an additional fund raising of Rs 1000 crore “through equity and related instruments”.…
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