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One97 Communications Plans IPO In 2010; Is The Co Ready, Market Conducive?

Mobile VAS company One97 Communications is planning for an IPO in the next two quarters, MD Vijay Shekhar Sharma told VCCircle, and raise around $100 million in order to fund expansion in India and abroad. So far, the company has raised around $25 million from  Intel Capital, SAIF Partners and Silicon Valley Bank in two rounds, and used money raised alongwith internal accruals to invest in capital deployment in the Indian market. Given the state of the telecom market in India, the IPO announcement comes as quite a surprise to us, and we asked Sharma, via email since he is travelling, why he thinks the market is conducive, and what makes him think the company is IPO ready. A Tough Market To List In? Of two mobile VAS companies listed in India, OnMobile Global and Tanla Solutions, only OnMobile Global focuses extensively on…

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Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

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