<article>Silicon Valley-based venture capital firm <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=sequoia+capital" target="_blank">Sequoia Capital </a>has divested more stake in India based local search firm <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=just+dial" target="_blank">Just Dial</a>, through open market transaction.</article>

Silicon Valley-based venture capital firm <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=sequoia+capital" target="_blank">Sequoia Capital </a>has divested more stake in India based local search firm <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=just+dial" target="_blank">Just Dial</a>, through open market transaction.
The VC firm has sold 1.12 million equity shares at Rs 900 each, aggregating to Rs 100 crore ($14.9 million).
This comes soon after Sequoia <a style="color: #000080;" href="http://www.dealstreetasia.com/stories/india-sequoia-part-exits-just-dial-sells-chunk-of-shares-for-over-5m-21311/" target="_blank">offloaded</a> a major chunk of its shares in the company for around Rs 34.6 crore.
Last year also, the VC firm sold some of its shares and before that in mid-2013, it pared some stake through offer for sale during its IPO.
Founded in 1994 by VSS Mani, Just Dial started offering local search services in 1996 under the Justdial brand and is now the leading local search engine in India. It provides the offerings through multiple platforms, such as the internet, mobile Internet, over the telephone (voice) and text (SMS).
Private equity firm <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=nalanda" target="_blank">Nalanda Capital</a>, another investor in the company, also hiked its holding in Just Dial as per a separate announcement. Post this, Nalanda became the third largest non-promoter investor in the company.
As of Sept 2015, Sequoia Capital owned 13.15 percent stake in Just Dial and Nalanda Capital held 2.2 percent stake in Just Dial.
Post these development, Sequoia&#8217;s holding come down to little over 11 percent stake.
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Silicon Valley-based venture capital firm Sequoia Capital has divested more stake in Just Dial which provides its offerings through multiple platforms.

Sequoia Capital divests stake in Just Dial for $15m; Nalanda Capital increases holdings

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Sequoia Capital divests stake in Just Dial for $15m; Nalanda Capital increases holdings

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