Kerala based mobile VAS company, MobME has filed its Draft Red Herring Prospectus for an IPO with the NSE SME Stock exchange to raise a capital close to Rs. 25 crores through 705,600 shares of face value of Rs.10. The object of raising this capital is to implement mobile digital signature pilot project in Kerala. The capital will be largely spent around the license fee to Valimo, procurement of Crypto SIM cards from Gemalto Digital Security Pvt. Ltd., 4000 mobile phones and other related expenses for the project. Although MobME is raising only Rs.25 crores, they plan to raise more on success of its pilot project. MobME is a telecom solutions company specializing in providing products and services using mobile communications technology. They offer their products and services to TSPs, State Governments, enterprises and financial institutions across India. Their products and services are classified into (i) VAS segment providing solutions over text, voice and data to TSPs and their subscribers; and (ii) Enterprise Solution segment. They implement m-governance projects for the states of Kerala, Goa and Nagaland. They work very closely with the state government of Kerala with involvement in over 90 of their state departments. Subsidiaries and Group Companies MobME also has two subsidiaries Getz Shoppe & Exim Private Limited and Forward Media Private Limited. Getz Shoppe & Exim Private Limited operates in the trading of consumer durable goods. Forward Media Private Limited operates in the print and digital media industry. Shareholdings in Forward Media Pvt Ltd is as follows: Financials of Forward Media Private Ltd: Shareholdings in Getz Shoppe & Exim…
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