Venture capital firm Sequoia Capital has sold almost 1 per cent stake in local search engine Just Dial through an open market transaction.
According to a BSE filing, Sequoia Capital India Investments III, SCI Growth Investments II and Sequoia Capital India Growth Investment Holdings I, which held 4.10 per cent stake, sold 6.36 lakh shares representing 0.94 per cent of stake in Just Dial.
The shares were offloaded on November 20. Based on the weighted average price of Rs 558.8 of the stock on the sale day, the transaction is estimated at Rs 35.55 crore.
Post share sale, Sequoia Capital's stake in Just Dial remains 3.16 per cent.
Founded by VSS Mani, the company started offering local search services in 1996 under the Just Dial brand.
The stock of Just Dial was trading at Rs 535.45 apiece, down 0.24 per cent, from its previous close on BSE.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
RBI to hike repo rate by 25 bps in February, ending tightening cycle: Reuters poll
Pakistan raises petrol price by Rs 35, pushing retail cost to a whopping Rs 249.80 per litre amid severe food, energy crisis
Budget 2023: Why budget's printing was shifted to North Block from Rashtrapati Bhavan?
Govt to sell 30 lakh tonnes of wheat in open market till March to control prices of wheat, atta
