OnMobile Global a provider of telecommunications value added software products and services got listed at Rs435 against issue price of Rs440. The scrip finally closed at Rs518 translating into a premium of 17.5% hitting an intra-day high of Rs579 and a low of Rs411 recording volumes of over 2,00,00,000 shares on NSE.

The company had entered the capital market with a public issue of 1.09crore equity shares at a price band of Rs425-450 and got subscribed 10.95 times. The IPO was subscribed 11 times. The QIB portion was subscribed 17 times, HNI 2.6 times and retail 1.3 times.

The company proposes to utilise the proceeds from the IPO for buying equipment for the company`s offices at Bangalore, Mumbai and Delhi and various customer sites. It will also use part of the money to meet working capital requirements, repayment of loan and to fund expenditures for general corporate purposes.

The book running lead managers to the issue were Deutsche Equities India and ICICI Securities.