SAP Ventures, the corporate venturing unit of global software group SAP, will soon realize its investment in Mumbai-based Just Dial, an India-based local business listings site, when the company opens its initial public offering on May 20 to raise between Rs 822 crore ($150m) and Rs 950 crore ($170m).

Depending on the final price band announced on Monday, the listing of Just Dial could mark India’s largest offering by an Indian internet company.

Just Dial, which has been putting its listing on hold since it first filed for an IPO back in August 2011, is reportedly looking to sell close to 17.5 million shares at a price band of Rs 470 ($8.50) to Rs 543 ($9.90).

The issue will solely comprise secondary sale of shares. Reportedly, close to 14.7 million shares will be sold by the investors while the balance of 2.8 million will be sold by the management and…

Subscribe to go deeper

GCV subscribers get access to all our proprietary data and deep-dive articles, as well as the global directory of CVC investors.

Not sure if you have a subscription?