One97 Communications delays IPO
Wednesday, 1 December 2010
MUMBAI, Nov 30 (Agencies) : Telecom value-added services provider One97 Communications Ltd has delayed its initial public offering (IPO) by about two weeks due to the current market volatility, a top official said.
The company's IPO to raise as much as 1.2 billion rupees will now open on Dec 13 and close on Dec 16, Chairman and Managing Director Vijay Shekhar Sharma told Reuters.
The firm, which provides value-added services to telecom service providers, consumers and enterprises, had earlier planned to open the offering on Dec 1. The company provides networking solution services to 12 telecom operators in India, and one each in Afghanistan, Nigeria and Bangladesh. The company offers services in categories like Network VAS, Consumer VAS and Enterprise VAS.
IDFC Capital and Avendus Capital are the book running lead managers.
The company's IPO to raise as much as 1.2 billion rupees will now open on Dec 13 and close on Dec 16, Chairman and Managing Director Vijay Shekhar Sharma told Reuters.
The firm, which provides value-added services to telecom service providers, consumers and enterprises, had earlier planned to open the offering on Dec 1. The company provides networking solution services to 12 telecom operators in India, and one each in Afghanistan, Nigeria and Bangladesh. The company offers services in categories like Network VAS, Consumer VAS and Enterprise VAS.
IDFC Capital and Avendus Capital are the book running lead managers.