Sequoia-Backed Just Dial Shares Surge 15% in Trading Debut
This article is for subscribers only.
Just Dial Ltd. increased 15 percent in its trading debut in Mumbai after the search service provider backed by Sequoia Capital raised $162 million last month in India’s biggest initial offering in 2013.
The shares, which began trading at 593 rupees, climbed as much as 19 percent before closing at 612.35 rupees, over the sale price of 530 rupees. The IPO, in which founders and investors including Sequoia, sold 17.5 million shares was subscribed 11.6 times.