Wednesday, November 24, 2010

One97 Communications IPO - Analysis, Recommendation, Review

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One97 Communications, a telecommunications value added service provider has come out with an IPO of Rs 120 crore. The company is a leading provider of telecommunications value added services to telecom service providers, consumers and enterprises in India. It develops and purchases content and applications, provides the relevant platform for delivery of our products and services and integrates these products and services with the core network elements of telecom service providers.

The company utilises interactive voice response (IVR) system or voice, short message services (SMS), unstructured supplementary services data (USSD) and wireless application protocol (WAP) technology to deliver products and services.

The IPO was earlier slated to open on December 1 and close for subscription on December 3 for qualified institutional buyers and was slated to close on December 6 for retail and non-institutional investors. The IPO has been postponed and will now open on December 13 and will close for subscription on December 16.

The proceeds of the issue will be used for procuring telecom equipment and software for installation at office as well as various sites of customers.

IDFC Capital Limited and Avendus Capital Private Limited are the book running lead managers to the issue.

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