Friday, January 18, 2008

OnMobile Global IPO - Analysis

Another IPO hitting the primary markets - OnMobile Global. OnMobile Global is a provider of telecom value added software products and services in India. The OnMobile Global IPO opens on 24th January and closes on 29th January and the shares would be listed on both NSE and BSE.

The price band of equity share of face value Rs 10 each has been fixed between Rs 425-450 per share. The issue has been graded above average by CRISIL and has been assigned a grade of 4/5.

We recommend investors to invest in this IPO. Ofcourse, as always wait for a couple of days after subscription opens and see how much the issue gets oversubscribed. Sometimes, if the issue gets oversubscribed by a huge number, investors may get very few shares. Even if they sell it at double the price, the return on total investment may be very less.

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