OnMobile Global has attracted the attention of VCs a year after its IPO: Norwest Venture Partners India has picked up a stake less than 5%, for about $15 million (Rs 77.55 crore) according to Mint. The companys stock is now at around Rs 231, a sharp fall from its 52 week high of Rs 744.7 and its listing price of Rs 521.90 when it went in for an IPO. Looks like Norwest sees an upside to the stock. Its market capitalization has fallen to Rs 1,320 crore from Rs 2,996.23 crore when it was listed in February last year.
We’ve contacted OnMobile for a confirmation.
Update: OnMobile has confirmed the development to MediaNama. We’re awaiting details of how much stake Norwest has picked up, and for how much.
Matured ESOPs; Block Deals In The Last Two Months
– Block Deals For OnMobile Global
– Maturing ESOPs:
13 March-Reg.13-SEBI(Prohibition of Insider Trading Regulations)1992
9 March-Reg.13-SEBI(Prohibition of Insider Trading Regulations)1992
– Q309 Call: Why OnMobile Did The SIMCA Deal; Ad-RBT National Rollout Plan
– OnMobile Posts Net Profit of Rs 204.2 M; Content Costs Up 18.5%; 6 Apps On Developer Network
– “We Will Look Heavily At Growth Equity Opportunities In 2009”: Haque