Bangalore: Mumbai based Just Dial’s Initial Public Offering (IPO) which saw a two year delay will open on May 20, 2013 to raise between 822 crore and 950 crore.

The company has proposed an issuance of 17,497,458 equity shares with face value of 10 each and this will be done through a sale by shareholders who will be selling their shares.

Just dial has also informed that a discount of 10 percent will be applied for retail individual bidders.

The offer will end on May 22, 2013 and in this period as stated by the IPO proposal and shares will be listed on NSE, BSE and the MCX-SX. Karvy Computershare will be the registrar for the officer and Morgan Stanley and Citigroup Global Markets India are the lead managers to run the books.

As we may recall, Justdial did not begin as an internet company. It was founded by VSS Mani as an offline phone based search that quickly grew into a reliable information giver.

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