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Just Dial's retail offer finally oversubscribed

Just Dial's retail offer finally oversubscribed
Despite being viewed as a pricey offer by brokers and analysts, the retail portion of the Just Dial IPO has oversubscribed.

The entire IPO still remains to be fully subscribed. Today is the last day for the closure of the IPO.

Just dial was subscribed 70 per cent on the second day of issue. The company has fixed the issue price band at Rs 470-543 and will give Rs 47 (10 per cent to the floor price) discount to retail investors.

If the market value of the scrip falls below the issue price at any time during the scheme period, promoters will buyback shares at the sale price from original allottees.

However, the buyback will be subject to a maximum of 1,000 shares per allottee.

Read more about: ipo
Story first published: Wednesday, May 22, 2013, 11:38 [IST]
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