Local search major, JustDial has finally filed its DRHP with SEBI for an IPO. JustDial is looking to raise Rs.360Cr. through issue of 10.6Mn fresh shares. Few promoters are also offloading their stake.
Last year around the same time, there was speculation of a possible of IPO of Rs.700Cr. JustDial last announced a funding of $10Mn from SAP Ventures and Sequoia Capital back in June.
JustDial is already strong in Indian market with virtually no competition on voice dial. Last year it also launched the human supported voice search services in USA, at the time when Google shut down its 1-800-GOOG-411 service.
What do you think about web/tech companies looking to raise from Indian markets? Is this a good time?