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OnMobile Global touches roof as its Promoter enters into agreement with Jump Networks

Onmobile Global is currently trading at upper circuit of Rs. 39.30, up by 6.55 points or 20.00% from its previous closing of Rs. 32.75 on the BSE.

The scrip opened at Rs. 34.90 and has touched a high and low of Rs. 39.30 and Rs. 34.90 respectively. So far 14916 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 49.50 on 16-Apr-2019 and a 52 week low of Rs. 26.25 on 05-Aug-2019.

Last one week high and low of the scrip stood at Rs. 39.30 and Rs. 29.00 respectively. The current market cap of the company is Rs. 346.16 crore.

The promoters holding in the company stood at 48.18%, while Institutions and Non-Institutions held 2.20% and 49.62% respectively.

OnMobile Systems Inc., a Promoter of OnMobile Global, has entered into a share purchase agreement (SPA) with Jump Networks for the sale of 1.90 crore equity shares of OnMobile Global at a price ranging from Rs 75.50 per equity share to Rs 78.00 per equity share. This sale is expected to be conducted within 75 days from the SPA Date and is subject to the conditions set out in the Share Purchase Agreement. OnMobile Systems Inc. currently holds 48.18% of the total issued and paid-up share capital of On Mobile.

OnMobile, headquartered in Bangalore, India, and with offices in all regions of the world, delivers over 575 million music plays daily to mobile customers worldwide.

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