OnMobile Global, plans to enter the capital market with an initial public offer (IPO) of 1.09 crore equity shares of Rs 10 each through a book building process in the price band of Rs 425-Rs 450 per share. The issue opens on January 24 and closes on January 29.
OnMobile a telecommunications value added software products and services, plans to use the funds for expanding its research and development team, foraying into international markets, merger and acquisition and to meet working capital requirements, repayment of loan and to fund expenditure for general corporate purposes.
The issue would constitute 18.99% of fully diluted post issue paid-up capital of the company. The equity shares are proposed to be listed on BSE and NSE.
Read more in The Business Standard article.
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