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OnMobile IPO Subscribed 1.31 Times At The End Of Day Two

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Day Two of the OnMobile IPO was better than the first: the Initial Public Offering of India’s largest mobile value added services (VAS) company was subscribed 1.31 times. The Qualified Institutional Buyers was oversubscribed at 2.1791 times, but there doesn’t appear to be much retail investor interest - that segment remained undersubscribed at 0.0199 times, up from 0.0059 times at the end of the first day of the IPO. Let’s see if things improve on the retail side on Day 3 and 4. Details of the subscription here at the NSE, and you can track the subscription live, here (Java required).

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Nikhil Pahwa Jan 27, 2008 11:01 PM ET
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Posted In: Mobile, Money, IPO, Companies, OnMobile

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  • i haven't heard about onmobile, is this new company ???

  • Companies such as onMobile have a great future. First of all the many of the innovative applications on mobile are being generated by companies based in India, which specialize in VAS applications, games etc based on Java or Brew.

    Secondly these companies operate in the fastest growing market in the world for mobile devices.

    Thirdly the potential of the Indian market is yet to be unleashed when 3G spectrum will be made available.

    Fourth, with new cell companies soon to enter the market, competition will be tough and User interfaces as well as VAS services will distinguish one offering from the other. 3G will take multimedia applications to a new level and will include services such as mobile TV.

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