OnMobile Global to list at around Rs 450-500: Experts

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OnMobile Global, a leading provider of telecommunications value added software products and services in India, will list on the bourses on February 19, 2008. Experts believe that the stock is likely to list around Rs 450-500 as against its issue price of Rs 440 per share.

According to Investment Advisor, S P Tulsian, "OnMobile Global is likely to list at Rs 450 against its issue price of Rs 440. Profit booking is advised upto Rs 425 levels."

R S Iyer of K R Choksey Securities said, "OnMobile is expected to list at around Rs 450-500. One should hold the stock for better price of Rs 650. Selling is advised above Rs 650."

The company had entered capital market with a public issue of 1.09 crore equity shares at a price band of Rs 425-450 and got subscribed 10.95 times.

It has a broad range of applications that are delivered by its carrier customers to their end-user subscribers. These products include ringback tones, voice portals, ringtone downloads, subscription manager, contests, music messaging, on-device client software, mobile radio, dynamic voicemail, voice short messaging service and missed call alerts which enable subscribers to personalise their mobile phones and thereby enhance user experience.