Sequoia Capital sells almost 1% stake in Just Dial

Venture capital firm Sequoia Capital has sold almost 1% stake in local search engine Just Dial through an open market transaction.

According to a BSE filing, Sequoia Capital India Investments III, SCI Growth Investments II and Sequoia Capital India Growth Investment Holdings I, which held 4.10% stake, sold 6.36 lakh shares representing 0.94% of stake in Just Dial.

The shares were offloaded on November 20. Based on the weighted average price of Rs 558.8 of the stock on the sale day, the transaction is estimated at Rs 35.55 crore.

Post share sale, Sequoia Capital's stake in Just Dial remains 3.16%.

Founded by VSS Mani, the company started offering local search services in 1996 under the Just Dial brand.

The stock of Just Dial was trading at Rs 535.45 apiece, down 0.24%, from its previous close on BSE.

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