Companies & Sectors
Sequoia Capital invests Rs305 crore in Just Dial

Just Dial’s service is delivered across the web, phone and mobile internet


Mumbai: Just Dial, one of India's leading local search engine, announced that Sequoia Capital has made an investment of Rs305 crore in the company. Just Dial is one of the first companies to offer local search services in India. It aims to provide fast, free, reliable and comprehensive information to its users and has provided consumers with an efficient interface for accessing local business information across India. Just Dial's service is delivered across the web, phone and mobile internet. 
 
Just Dial's unique local search service leverages a database of approximately 7.8 million merchant listings across various Indian cities and towns, with over 12 million merchant ratings and reviews. The company is one of the leading brands in India's local search services and has approximately 171,000 campaigns by SME advertisers who use its platform to market themselves directly to consumers who may have an interest in their products or services. Mobile Internet is the fastest growing channel for users to access Just Dial's services and now accounts for approximately 10% of Just Dial's total searches. 
 
This is Sequoia Capital's third investment into Just Dial. This round of funding will help drive marketing, technology investments and assist Just Dial in increasing service levels to consumers and advertisers.
 
Shailendra Singh, managing director, Sequoia Capital said, "We believe Just Dial enjoys an unassailable market position in local search, developed through many years of fantastic execution. Our investment reflects our strong conviction in the management's ability to continue to delight consumers and serve their 170,000+ customer campaigns as the most efficient source of lead generation for Indian businesses."
 
VSS Mani, CEO & managing director, Just Dial said: "Sequoia Capital has been a great partner for us since they came on board in 2009 and with this investment the partnership has graduated to a new level. We welcome this additional investment by Sequoia as it meets our purpose of having adequate cash to meet our short, medium and long term strategic objectives."
 
Just Dial will also make changes to its proposed initial public offering consequent to this investment.

User

Do You Own Oil Company Shares?

As government hiked petrol prices by Rs7.50 per litre, trading volumes of three oil...

Premium Content
Monthly Digital Access

Subscribe

Already A Subscriber?
Login
Yearly Digital+Print Access

Subscribe

Moneylife Magazine Subscriber or MSSN member?
Login

Yearly Subscriber Login

Enter the mail id that you want to use & click on Go. We will send you a link to your email for verficiation
CIL gets NTPC’s de-allocated coal mines

The Prime Minister's Office recently asked the coal ministry to fast-track the process of taking back captive blocks from the companies which have not developed them within the stipulated time, and giving them to Coal India

New Delhi: The coal ministry has given three de-allocated mines, including two of NTPC, to Coal India (CIL) and asked it to appoint mine developers to begin the production from these blocks at the earliest, reports PTI.

The Prime Minister's Office (PMO) recently asked the coal ministry to fast-track the process of taking back captive blocks from the companies which have not developed them within the stipulated time, and giving them to Coal India (CIL).

Recently, show-cause notices were also issued to 58 allocates, including Reliance Power, Tata Power and JSW for delaying the production from the blocks.

The country is facing acute coal shortage, hitting hard the power sector and moves are afoot to ensure that the production is enhanced.

"The coal ministry has given three deallocated mines a couple of days ago to CIL. It has also asked the PSU to appoint mine developer, operator (MDO) to expedite the development of these blocks," a top official in the ministry told PTI.

The three mines given to CIL are NTPC's Brahmini and Chichro Patsimal coal blocks in Jharkhand and West Bengal Power Development Corporation's (WBPDCL) East of Damagoria (Kalyaneshwari) coal mine, the official said.

In May last year, the coal ministry had deallocated Brahmini and Chichro Patsimal coal blocks. Both the blocks were allocated in January 2006 to be jointly operated through a 50:50 joint venture between NTPC and CIL.

The coal ministry in the letter last year had stated that it is "of the view that the allocatee company (NTPC) is not serious about development of coal blocks and (the government) has therefore, decided to deallocate Brahmini and Chichro Patsimal coal blocks allocated to NTPC."

The Damogoria block was allocated to WBPDCL for its proposed expansion of power plants and setting up of a new 1,000MW thermal power plant in West Bengal.

WBPDCL had surrendered this mine to the coal ministry citing difficulty in developing it.

Coal India's shares were trading at Rs347.70 per share on the Bombay Stock Exchange at 3:10pm, while the Sensex was at 17,030.
 

User

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)