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Mobile VAS Company MobMe Plans To Raise Capital Through IPO

Kerala-based Mobile VAS company MobMe Wireless Solutions is planning to raise capital through an Initial Public Offering (IPO) rather than choosing venture capital funding, reports TechCircle. The report states that MobMe has appointed IDBI Capital Market Services Ltd as its merchant banker and plans to debut on the NSE SME Exchange. It has also appointed Gyan Magnus Associates as IPO advisors and Desai & Diwanji as the lawyers for the issue. That being said, there is still no information on when the company plans to file the issue and how much capital it's looking to raise through this issue. Offerings: Founded in December 2006, MobMe offers various telecom products and services to operators, brands and the government. This includes network solutions for telcos to manage SMSC, USSD, IVR and Outbound Dialler (OBD) services, value added services for telcos and brands and hosted enterprise solutions across SMS, voice and data platforms for Brands, Businesses, Banks and Government Institutions. It also offers a product called ZULO (Zero-User-Latch-On Alerts) which allows telcos to target zero users by sending alerts to them to increase their usage. According to a company presentation, MobMe claims to have deployed ZULO in 32 regions across multiple telcos in two continents. This includes 19 regions operated by Aircel, 10 regions operated by Vodafone and few regions operated by Zantel Africa. Besides this, it also claims to work with several state governments, central departments, nodal agencies, telecom network operators and regulatory bodies in various mobile governance initiatives. Previous Developments: Last month, MobMe had inked agreements with a mobile authentication…

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