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MobMe Wireless plans to list on SME Exchange of NSE

14 Feb 2013 Evaluate

MobMe Wireless is planning to become the first IT start-up to get listed on the SME Exchange of NSE. The company will offload 705,600 equity shares with a face value of Rs 10 each to the public through the IPO.

The company is hopeful of raising a little over Rs 7 crore through the issue and will utilize the issue proceed for expansion purpose. The Thiruvananthapuram-based company had already filed the IPO papers with the NSE on February 8, 2013. GMA Capital Partners of Kochi and IDBI Capital Markets are the lead-arrangers to the issue.

MobMe Wireless’ core focus is Mobile Express, a plug and play Eco-System that combines the security and non-repudiation properties of Digital Signature Certificates with the convenience and simplicity of Mobile phones. MobMe holds the exclusive license of SIM based W-PKI solutions from Finland based Valimo Wireless for the Indian market. Valimo is a subsidiary of Gemalto, world leaders in Digital Security & Smart Card applications.

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