Reuters - Just Dial's $170 mln IPO Covered 11.6 times

Indian local search service provider Just Dial Ltd's up to $170 million initial public offer was subscribed 11.6 times on closing in what is the biggest IPO in the country so far this year, writes Reuters. The response to the equity offering signals strong investor appetite for new shares, although bankers said this would unlikely open up the moribund IPO market in the near term with few medium-to-large sized issues in the pipeline, writes Reuters.

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