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General Atlantic in talks for stakes in Just Dial, Info Edge

Just Dial said it was not in discussion with any investor on issuance of its shares.

By: Reuters | Mumbai |
July 19, 2014 1:03:13 am

US private equity firm General Atlantic is in talks to buy a 2 to 5 per cent stake each in India’s Just Dial Ltd and Info Edge India Ltd , two sources with direct knowledge of the discussions said on Friday.

At current market prices, a 2 to 5 per cent stake in Just Dial, a search service provider, would be valued between $36.4 million and $90.9 million.

In a statement to the stock exchange late on Friday, Just Dial said it was not in discussion with any investor on issuance of its shares.

“The news article is market speculation and we are not in a position to comment on the same,” it said.

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A similar stake in Info Edge, an online classifieds provider, would be $25.4 million to $63.7 million.

General Atlantic declined to comment. An Info Edge spokeswoman had no immediate comment.

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