Onmobile Global has filed its DRHP with SEBI on 18th September 2007. The company is planning an issue of 10,900,545 equity shares of face value Rs 10, targeting a mop up of Rs 350-450 crore.
The company is the largest player in the mobile value-added services market in India, and its strong presence in the voice portal and ring back tone segments of the VAS market. The company was promoted by two first generation entrepreneurs - Mr Arvind Rao, and Mr Chandramouli Janakiraman.
At the core of OGL's offering to telecom operators is a platform named MMP 2500 - a combination of standard hardware and OGL software - which is and handset neutral. Leveraging on this platform, OGL provides a range of services such as ringtones, information, RBT, and m-commerce to telecom subscribers.
OnMobile Global reported a net profit of Rs 33.7 crore on a turnover of Rs 133 crore for the year ended March 2007. In 2005-06, the company posted a net profit of Rs 24.8 crore and revenue of Rs 82.6 crore.
The BRLMs to the issue are Deutsche Bank and ICICI Securities. The stock is proposed to be listed on the BSE and the NSE.