Tiger Global exits Just Dial, sells stakes for over Rs 430 cr

New Delhi: Private equity giant Tiger Global exited its investment in local search engine Just Dial for over Rs 430 crore through an open market transaction. [caption id=“attachment_847985” align=“alignleft” width=“380”]  Tiger Global offloads stake at Just Dial.[/caption] According to a BSE filing, Tiger Global Four JD Holdings and Tiger Global Five Indian Holdings sold 37.89 lakh shares, representing 5.37 percent of Just Dial. The shares were offloaded on 19 May based on the closing price of Rs 1,138.65 and the transaction is estimated to have been valued at Rs 431.49 crore. On 30 March, Tiger Global had offloaded 3.41 percent in Just Dial for over Rs 300 crore through an open market transaction. According to BSE data, as of quarter ended 31 March 2015, Tiger Global Four JD Holdings and Tiger Global Five Indian Holdings held 6.96 percent and 4.32 percent stake, respectively, in Just Dial. Founded by VSS Mani, the company started offering local search services in 1996 under the Just Dial brand. The stock was trading at Rs 1,127 in the morning trade, down 1.02 percent from its previous close on BSE. PTI