On Mobile Global today was listed on the NSE and BSE at Rs 440 per share on par with its issue price.
The scrip is now trading at Rs 523 - nearly 19% premium to its issue price on the BSE.
The issue was subscribed 11 times. The price band of IPO was between Rs 425 and Rs 450 per equity share.
The company had come up with a fresh issue of 8.6 million equity shares. The issue constituted 18.99% of the fully diluted post issue paid-up capital of the company.
On Mobile plans to utilize issue proceeds to purchase equipment for the offices at Bangalore, Mumbai and Delhi and various customer sites, to meet working capital requirements, repayment of loan and to fund expenditures for general corporate purposes.
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