OnMobile Global opens at issue price

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OnMobile Global opens at issue price

OnMobile Global, a provider of telecommunications value added software products and services in India, has opened at its issue price of Rs 440. The stock touched a high of Rs 470 in early trade with good buying support and positive sentiment in markets also one of the reason for upside in stock.

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OnMobile Global BSE | NSE 25/05/12 Are Mutual Funds betting on OnMobile Global?

OnMobile Global , a provider of telecommunications value added software products and services in India, has opened at its issue price of Rs 440. The stock touched a high of Rs 470 in early trade with good buying support and positive sentiment in markets also one of the reason for upside in stock.

It also hit a low of Rs 411 but the share managed to stay above its issue price. It was quoting at Rs 453.25, up 3%, with volumes of 9,22,290 shares on the NSE. The turnover was at Rs 42 crore.

On the BSE, at 9:58 am, the stock was trading at Rs 451.55, with volumes of 5,45,255 shares. It has touched a high/low of Rs 472 and Rs 421, respectively.

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.