Updated below with Voxmobili revenues corrected

OnMobile filed a Draft Red Herring Prospectus (DRHP) with SEBI last month, for a public issue of 10,900,545 shares, and one of our readers tipped us off about the filing recently. The company currently has 271 existing shareholders, excluding those with stock options. Lots of details about the company’s shareholding, financials and acquisitions in the DRHP, which you can download here. Some details we’ve gleaned:

Revenue and Profit
OnMobile’s net revenue for the fiscal 2007 was Rs. 1,329.7 million, up at a compound annual growth rate (CAGR) of 80.2 percent from 826.2 million in the 2004-05. Profit after tax was Rs. 337.2 million in 2006-07, up from Rs. 140.2 million in 2005 at a CAGR of 55.1 percent. 90 percent of 2006-07 revenue was from revenue sharing agreements with carriers. With a customer base of over 50, 81 percent of revenue is from its top five customers. Most customer contracts are non-exclusive, of between two to five years. Licensing agreements with content providers are mostly for one year, and need to be renegotiated. Over 40 percent of revenue is from music, mostly CRBT (NYSE: BT) application based. Net worth of OnMobile was Rs. 2,026.78 million as of March 31, 2007.

More in the extended text.

Subsidiaries and Overseas Business
Just 2.1 percent of revenue in 2006-07 was from overseas. The company entered into contracts with eight new carriers in fiscal 2007, in Indonesia, Malaysia, Pakistan, Bangladesh and Sri Lanka. OnMobile Singapore turned in a profit in 2007 after two fiscals of losses. OnMobile Australia and Indonesia are still loss making entities.
Recently acquired Voxmobili SA had Rs. 289.40 million in sales in 2006-07, with a profit of Rs. 50.58 million. Its US subsidiary Voxmobili Inc. had Rs. 5.096 million in sales in 2006-07, with a loss of Rs. 0.657 million. It has 10 customers worldwide, and 40 employees. For the acquisition, OnMobile is paying Euro 22.3 million in cash and issuing 423,722 new equity shares to founding shareholders. Another Euro 1.3 million worth of ESOPs have to be paid out. 
ITfinity was acquired on December 22, 2006 for Rs. 213.48 Million, of which Rs. 195.07 Million was cash and the rest was equity.

Lawsuits and Legal Notices
A content related case filed by Vectracom (Pvt) Ltd in Madras High Court against 20 defendents including OnMobile for providing Cricket SMS alerts. Vectracom had been given sole rights for SMS alerts by Pakistan Cricket Board for Pakistan’s tour of India in 2006. OnMobile also received a legal notice from Infosys on August 10th, opposing the proposed public issue of shares, as a shareholder. Infosys has less than 10 percent shares of OnMobile, and less than 1 percent voting rights, so OnMobile has decided to go ahead with the Issue.

For more details, download the 339 page Draft Red Herring Prospectus here.

• OnMobile To Acquire Voxmobili for $35.12 Million
• Mobile VAS Co Cellebrum Plans For IPO This Fiscal
• Report: VAS Provider Onmobile To Go For IPO This Fiscal
• The Final Numbers: OnMobile Raises $27.8 Million In Second Round
• One97 Communications Raises Series A Funding From SAIF Partners, Silicon Valley Bank