OnMobile Global Ltd IPO opens on Jan 24

Mumbai, Jan 17 (UNI) OnMobile Global Ltd, a leading provider of telecommunication value added software products and services in India with an expanding international presence will enter the capital on January 24 with an initial public offering of 10,900,545 equity shares of Rs ten each for cash at a price to be determined through a book building process.

The Company MD cum CEO Mr Arvind Rao told mediapersons that the objective of the issue are to purchase equipment for the Company's offices at Bangalore, Mumbai and Delhi along with various sites, to meet working capital requirements, repayment of loan and to fund expendidtures for general corporate purposes.

The issue will close on January 29 and the price band has been fixed between Rs 425 and Rs 450 per equity share, he added.

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