Planet 41 Mobi- Venture IPO : Files DRHP With SEBI

by khalid on 16/07/2010 · 0 comments

Planet 41 Mobi- Venture is a mobile value added service (MVAS) provider of carriage grade messaging platforms and gateways, content management systems, WAP and voice platforms through managed services. The company has filed a Draft Red Herring Prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI) to float its Initial Public Offer (IPO), of the Equity Shares. The company plans to raise money from primary market with an IPO of 39,00,000 equity shares of face value Rs 10 each, with a premium decided by the 100% book building process.

The Equity Shares are proposed to be listed on the Bombay Stock Exchange Limited (BSE) and the National Stock Exchange of India Limited (NSE).

The objects of the fresh issue :- The money raised from this IPO will be utilize by the company for investing in setting up of the corporate office in Mumbai and branch offices in Delhi, Bangalore, Kolkata and Chennai; investing in equipments; investing in research and development; investing in development of technologies; funding the brand building exercise and funding expenditure for general corporate purposes.

Book Running Lead Managers (BRLMs) to the offer is Keynote corporate Service and Bigshare Services is the registrar.

Stay tuned to BelltheBull Blog for more on Milestone Capital Advisors IPO!

Source : BelltheBull

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