Tiger Global has sold a further 5.37% stake in directory services company JustDial for Rs 408 crore (about $64 million) through open market transactions, reports TechCircle. Tiger Global now has 3.81% stake left in JustDial. Earlier this month, it had sold 2.1% stake in the company for Rs 162 crore, and had shed 3.4% stake for Rs 300 crore in March this year. Tiger Global is also believed to have sold a partial stake during JustDial’s 2013 IPO. Tiger Global had invested about Rs 77 crore in JustDial in 2007 and a further Rs 30 crore in 2009. It's not clear why Tiger Global is diluting its stake in JustDial, especially since now JustDial is no longer simply a local businesses listings platform. Earlier this year, the company introduced a marketplace for selling electronics and white goods to bolster its e-commerce ambitions. JustDial's Search Plus suite of services has also expanded to offer 23 services, including online travel & ticketing and doctor appointment bookings and restaurant merchant management services. It's also developing a cab-hailing app, which will likely be integrated into the Search Plus suite. The company is also looking to launch its digital payments service JD Cash this year. JustDial is also looking to expand to the Middle East, and its UK website went live in February. Interestingly, Tiger Global's biggest bet in India is Flipkart, which is now a prime competitor for JustDial. Tiger Global has invested in every single round since it first invested in Flipkart in 2010. However,…
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