OnMobile Global IPO
OnMobile Global will enter the capital market with its initial public offering of 10,900,545 equity shares through a book building process on January 24.
The price band of equity share of face value Rs 10 each has been fixed between Rs 425-450 per share. The issue would constitute 18.99 per cent of the fully diluted post issue paid-up capital. The IPO will close January 29.
The company plans to use IPO proceeds to purchase equipment for company’s offices at Bangalore, Mumbai and Delhi and various customer sites, to meet working capital requirements, repayment of loan and to fund expenditures. The issue has been graded above average by CRISIL and has been assigned a grade of 4/5.
OnMobile Global is a provider of telecommunications value added software products and services in India with an expanding international presence.
The shares are proposed to be listed on Bombay Stock Exchange and National Stock Exchange of India.
The book running lead managers to the issue are Deutsche Equities India and ICICI Securities.
