Just Dial, an India-based search engine backed by Germany-based technology company SAP, has postponed its planned-flotation announced in August last year in favour of raising R327 crore ($70m) from its existing investors.
Venture capital firm Sequoia Capital led the round – which involved selling shares from existing investors – with an investment of R305 crore, which is its largest investment in an Indian company, while SAP Ventures provider the remainder. Post the investment, Sequoia holds about 19% of Just Dial,…
