<article>VC firm SAIF Partners&#8217; managing partner <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Ravi+Adusumalli" target="_blank">Ravi Adusumalli</a> has left the board of local search firm <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=just+dial">Just Dial Ltd</a>.</article>

VC firm SAIF Partners&#8217; managing partner <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Ravi+Adusumalli" target="_blank">Ravi Adusumalli</a> has left the board of local search firm <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=just+dial">Just Dial Ltd</a>.
&#8220;Ravi Adusumalli, non-executive and non independent director of the company, has ceased to be a director of Just Dial from May 27, 2016,&#8221; the company announced in a stock market disclosure.
The VC firm has already sold its stake in Just Dial. Initially it had first invested Rs 55 crore and was the first large institutional investor in the local search company. SAIF invested more later, along with other investors like Tiger Global.
The company also counts Nalanda Capital and Sequoia Capital as its major stakeholders.
Recently VC firm <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Sequoia+Capital" target="_blank">Sequoia Capital</a> had also divested its stake in Just Dial while <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Nalanda+Capital" target="_blank">Nalanda Capital</a> had <a style="color: #000080;" href="http://www.dealstreetasia.com/stories/nalanda-capital-hikes-stake-in-just-dial-to-almost-8-28472/" target="_blank">increased</a> its holding in January this year.
Founded in 1994 by VSS Mani, Just Dial provides its services through multiple platforms, such as mobile internet, over the telephone (voice) and text (SMS).
The company had a consolidated net profit of Rs 141.85 crore in March 2016 as compared with Rs 138.84 crore in 2015 for the same period.
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<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/just-dial-shares-experience-high-volatility-with-e-commerce-pursuit-35523/" target="_blank">India: Just Dial shares experience high volatility with e-commerce pursuit</a>

The VC firm has sold the part of its stake in Just Dial.

India: SAIF's Ravi Adusumalli leaves Just Dial board

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India: SAIF's Ravi Adusumalli leaves Just Dial board

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