OnMobile is all set to enter the capital market with an IPO of 1.09 crore equity shares of Rs 10 each for cash. The issue will open for subscription between January 24 and January 29. The price band has been fixed between Rs 425-450 per equity share. The company is proposing a fresh issue of 86.13 lakh equity shares and an offer for sale of 22.87 lakh equity shares by OnMobile Systems Inc.

The issue would constitute 18.99 per cent of the fully diluted post issue paid-up capital of the company. The equity shares are proposed to be listed on the BSE and NSE.

Reports suggest that around 60 per cent of the issue will be allocated on a proportionate basis to qualified institutional buyers while 10 per cent of the issue will be available for allocation on a proportionate basis to Non-institutional bidders and 30 per cent of the issue will be available for allocation on a proportionate basis to retail individual bidders.