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This is an archive article published on August 10, 2010

One97 Communications plans Rs 1.2 bn IPO

One97 Communications plans to raise Rs 1.2 bn through an initial public offering by September.

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Telecom value-added services provider One97 Communications Ltd plans to raise Rs 1.2 billion through an initial public offering by September,the proceeds from which would be used for expansion,a top official said on Tuesday.

“We wish to leverage emerging opportunities of 3-G (third generation telecom) in India and emerging global opportunities in VAS (value added services). We expect to come up with the IPO mostly by September,” Chairman and Managing Director Vijay Shekhar Sharma said.

Intel Capital (Mauritius) holds 9.7 per cent stake in the firm.

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