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“Is the Cellebrum IPO still on?” Apparently Not

"Is the Cellebrum IPO still on?" was the question two senior execs at the Telecom CEO Conclave asked me yesterday. My sense was that given the market conditions and the worldwide panic across financial markets, they would defer it until the market recovers. It would be brave, perhaps foolhardy, for a company to try to raise money from the public until this storm passes by. As a case in point, take a look at OnMobile Global, which is probably the market leader in the Mobile Data Services or VAS space. It ended last week at Rs. 484.90, just Rs. 44.90 above its issue price, and much much below its 7 month high of 744.70; it listed on Feb 19th 2008. Would Cellebrum take a risk is such volatile markets? Confounding the issue, according to the Economic Times, is that SEBI…

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