A leading provider of télécommunications value added software products, OnMobile Global Limited drat they would be entering the capital markets with an initial public offering (IPO) of 10,900,545 equity shares of Rs 10 each for cash at a price to deter-mined through the book building process. The issue/bid will open for subscription later this month from Jan 24 and close on Jan 29. The price band has been fixed between Rs 425 and Rs 450 per Equity Share. The company is proposing a fresh issue of 8,613,356 equity shares and an offer for sale of 2,287,189 equity shares by On'mo-bile Systems Inc (the selling shareholder).

The issue would constitute 18.99 per cent of the fully diluted post issue paid-up capital of the company and the shares are pro-posed to be listed on Bombay Stock Exchange Limited (BSE) and National Stock Exchange (NSE). The Issue has been graded above average by CRISIL and has beeaassigned a grade of 4/5. At least 60 per cent of the issue will be allocated on a proportionate basis to Qualified Institutional Buyers (QlBs), out of which 5 per cent shall be available for allocation on a proportionate basis to Mutual Funds only.

Further, not less than 10 per cent of the issue will be available for allocation on a proportionate basis to non-institutional bidders and not less than 30 per cent of the issue will be available for allocation on a proportionate basis to retail indi-vidual bidders, the statement clarified. The book running lead managers (BRLMs) to the issue are Deutsche Equities India Pri-vate Limited and ICICI Securities Limited.