Date:13/12/2012,
IPO,
Domestic Company, Announced Deal,
MobME Wireless Solutions Pvt Ltd, Mobile value added services provider, planning to raise funds through an IPO at the SME Exchange on the NSE, according to nextbigwhat.
The company is the first startup from Kerala to go public for raising funds and is preparing a DRHP for the same.
It has appointed IDBI Capital Market Service as the Merchant Banker.
Founded in 2006 in Trivandrum Technopark, MobMe providers value added services to telecom operators like Vodafone, Airtel, Idea and others.
Recently, MobMe partnered with Dutch security leader Gemalto and Valimo Wireless Oy of Finland to roll out mobile digital signatures for secure logins and transactions in India.
MobME is also the first telecom mobile VAS company to have a full-fledged R&D facility certified by the Central Department of Government of India.
Management consulting firm Zinnov says that the MVAS market in India, currently valued at over $5 Bn will cross $6 Bn in 2013. India has over 900 Mn wireless subscribers with a growing appetite for buying mobile based services.Larger companies like OnMobile and One97 also fall into the MVAS category.
Recently, Thejo Engineering got listed at R412 per share on NSE’s SME platform.
In the Space, Zipdial Mobile Solutions, a mobile solution startup in Bangalore has secured seed investment from 500Startups; Mobile application developer - Twist Mobile India raised series A investment from Matrix Partners; Bangalore based United Mobile Apps raised $1Mn Series A funding from Mumbai Angels.
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