OnMobile Global was subscribed 1.31 times on the second day of opening. The issue received bids for 1.43 crore shares as against 1.09 crore shares on offer. The price band of equity share of face value Rs 10 each has been fixed between Rs 425-450 per share. The IPO will close on 29 January 2008.
The issue would constitute 18.99% of the fully diluted post issue paid-up capital. 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 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.
|