MobMe Wireless Solutions To Be Listed On The NSE Emerge Platform
Priyanka Kumari / 04 Apr 2013
Although the issue price and bid lot size for this IPO have not been disclosed yet, the proceeds will be utilised for acquisition of land and construction of software production unit among a few other purposes.
A Kochi-based telecom company, MobMe Wireless Solutions (MWS) is all set to list its equity shares on the Emerge platform of the NSE. MWS plans to offer 7.56 lakh equity shares with a face value of Rs 10 per share. Out of the total offering, 37,800 equity shares will be reserved for market makers, while the remaining 7.18 lakh equity shares will be offered as a net issue to the public. The total issue and the net issue will constitute of 26.32% and 25% respectively of post issue paid-up equity capital. The public issue will be based on a book building method. The lead manager for this issue is IDBI Capital Market Services.
MWS is engaged in the business of providing customised products and services to its customers using mobile communication technology. Its products and services are classified into two verticals - Value Added Services (VAS) segment and Enterprise Solution Segment (ESS). The VAS segment provides many solutions for text, voice and data telecommunications service priority (TSPs) to its customers. Under the ESS, the company provides services to government departments, public sector companies and financial institutes. Along with this, it also implements M-commerce projects for various state governments. It operates in the states of Kerala, Goa and Nagaland.
Further, MWS has two subsidiary companies - Getz Shoppe & Exim and Forward Media. Getz Shoppe & Exim is engaged in the trading activity of Consumer Durable goods, while its second subsidiary operates in print and digital media industry.
On a consolidated basis, MWS posted a topline of Rs 2,285.97 lakh in H1FY13 as compared to Rs 2314.45 lakh in FY12. In the similar period, the bottomline reached Rs 194.76 lakh against Rs 513.92 lakh in FY12. In addition to this, the company has posted a loss of Rs 3.27 lakh in the year.
The company proposes to utilise the issue proceeds for acquisition of land and construction of software production unit, to raise the license fee to Valimo Wireless, procurement of computers and peripherals, Crypto SIM cards, mobile digital signature certificates and procurement of 4,000 mobile phones.
Although MWS has decided to list its shares on the NSE Emerge platform, it has not come up with the issue price and bid lot size for the issue. So keep watching this space, we will keep you updated once the issue price and other related details are disclosed by the company.
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