OnMobile goes public, concludes $30 million pre-IPO placement
February 15, 2008
Bangalore-based value-added software products and services player OnMobile has launched its IPO. The 10.9 million equity share IPO has been oversubscribed nearly 11 times. The issue received bids for over 119 million shares against the 10.9 million on offer. The price band was fixed at Rs 425-Rs 450 per share.
Meanwhile, the company has raised around $30 million through a pre-IPO placement. According to sources, George Soros' Quantum Fund, Bessemer India Capital and Wardferry India Recon-naissance Fund have picked up 3.54 per cent, 0.9 per cent and 0.95 per cent stakes respectively in the company.
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