Telecom Lead India: Kerala-based telecom start-up MobME Wireless plans IPO.
The telecom solutions company filed its DRHP with the SME platform of National Stock Exchange of Exchange of India on February 8, 2013 for the IPO.
“The company will offer 705,600 equity shares of face value of Rs 10,” said MobME co-founder and CEO Sanjay Vijayakumar.
MobME, started in 2006, will aim at becoming the first IT company on the NSE SME exchange.
MobME’s unconsolidated net profit was Rs 5.59 crore on total income of Rs 23.10 crore for the financial year ended March 31, 2012.
Specializing in VAS and enterprise solutions, MobME Wireless has emerged as one of the major players in the M-Governance space having deployed solutions for Kerala, Goa and Nagaland Governments.
The company has filed for two patents and has 21 trademarks.
The company is currently putting together a mobile identity ecosystem, Mobile Express, which uses mobile digital signatures to allow its users to digitally authenticate numerous transactions thereby allowing the mass adoption of digital signature technology in India.
In January, MobME along with National Science & Technology Entrepreneurship Development Board under the Department of Science and Technology and Technopark, Trivandrum set up India’s first public–private partnership technology business incubator named Indian Telecom Innovation Hub (Startup Village in Kochi).
