How Just Dial CEO VSS Mani Bagged Rs.1328 Cr in Share Market
By SiliconIndia
Bangalore: Just Dial, the one of India's major local search engines bagged in over the top responses with its Initial Public Offering.
On 4th June Just Dial share prices closed at Rs.611 per share, which was 15 percent more than the issue price. The deal helped founder VSS Mani to nail Rs.87 crore by selling 15.57 lakhs shares in the IPO. Mani now holds 30.28 percent equity shares valued at Rs.1, 241 crore. But more than the wealth Mani is celebrating the success of the 14-year long wait to get Just Dial listed, reports Baiju Kalesh & Archana Rai of Economic Times.
Mani has been trying his heart and sole to get Just Dial listed since 1999. He took his first premature steps towards Initial Public Offering and took six shots to list Just Dial at Nasdaq, but failed. He also filed for IPO twice in India in 2011 and 2012 which still didn't workout. Finally his sixth attempt succeeded very well and has become one of the largest initial public offers by an Indian Internet company.
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