July 18, 2014 / 2:26 PM / 3 years ago

UPDATE 1-General Atlantic in talks to buy stakes in India's Just Dial, Info Edge -sources

(Adds Just Dial statement)

MUMBAI, July 18 (Reuters) - U.S. private equity firm General Atlantic is in talks to buy a 2 to 5 percent stake each in India’s Just Dial Ltd and Info Edge India Ltd , two sources with direct knowledge of the discussions said on Friday.

At current market prices, a 2 to 5 percent stake in Just Dial, a search service provider, would be valued between $36.4 million and $90.9 million.

In a statement to the stock exchange late on Friday, Just Dial said it was not in discussion with any investor on issuance of its shares.

“The news article is market speculation and we are not in a position to comment on the same,” it said.

A similar stake in Info Edge, an online classifieds provider, would be $25.4 million to $63.7 million.

General Atlantic declined to comment.

An Info Edge spokeswoman had no immediate comment.

Reporting by Abhishek Vishnoi; Additional reporting by Indulal PM and Niveditta Bhattacharjee; Editing by Ryan Woo and David Evans

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