MobME Wireless files DRHP with NSE SME Exchange

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Trivandrum: MobME Wireless, a telecom solutions company started by a bunch of college students in 2006, is looking to become the first IT company on the NSE SME exchange, annexing the dream run from being a campus start-up to a public limited entity. The company has filed its Draft Red Herring Prospectus (DRHP) with the SME platform of National Stock Exchange of Exchange of India for the proposed initial public offer (IPO).

“The company will offer 705,600 equity shares of face value of Rs.10. More than the quantum, what makes it special is that this can kindle a fire in the belly of thousands of youngsters who have a dream to think big,” MobME co-founder & CEO, Sanjay Vijayakumar said, terming the occasion as ‘momentous.’

“We started MobME when we were still in the college. But over the years, we were able to create employment, knowledge and wealth that would be several times higher than our initial investment. After six years, and emerging as a profitable company, we are now gearing up for our next round of growth with this proposed IPO that will give many more people to be part of our exciting journey,” he added.
 
Specializing in providing VAS and enterprise solutions, the company has emerged as one of the major players in the M-Governance space having deployed solutions for Kerala, Goa and Nagaland Governments. It has filed for two patents and has 21 trademarks already, with a thrust on research and development.

MobME’s unconsolidated total income was Rs.2,310.10 lacs for the financial year ending March 31, 2012 and has grown at a CAGR of 185.75% over its total income of  Rs.34.65 lacs for the period ending March 31, 2008. MobME’s unconsolidated net profit was Rs.559.74 lacs for the financial year ending March 31, 2012 as compared to Rs.106.07 lacs for the period ending March 31, 2008.

GMA Capital Partners, a Kochi based boutique corporate finance firm, is advising MobME  for the proposed IPO.

Kerala IT News

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