OnMobile buys back Rs 23.76-cr worth shares

Our Bureau Mumbai | Updated on November 16, 2017 Published on July 09, 2012

OnMobile Global has bought back 40 lakh shares for Rs 23.76 crore. The average price a share works out to Rs 59.41.

The promoter holding post the buyback has gone up from 48.06 per cent to 49.75 per cent.

The stake of foreign investors fell from 22.29 per cent to 19.51 per cent post the buyback. DII stake fell from 2.01 per cent to 0.46 per cent after the buy back.

The stake of other shareholders (public and corporate) went up from 27.38 per cent to 30.28 per cent post the buyback.

In its public announcement (addendum) dated September 28, 2011, OnMobile had fixed a maximum buy back price of Rs 85 a share for buying up to 40 lakh shares taking the maximum offer size to Rs 25 crore.

The buyback commenced on September 30, 2011 and concluded on June 21.

PTI adds:

Foreign fund house Goldman Sachs Investments Mauritius on Monday sold 6.55 lakh shares of the company for Rs 2.22 crore through open market transaction. However, the buyer of the shares could not be ascertained immediately.

According to bulk data available with the stock exchanges, Goldman Sachs offloaded 6,55,632 shares of OnMobile Global for Rs 34.01 apiece, valuing the deal to Rs 2.22 crore.

Published on July 09, 2012

A letter from the Editor

Dear Readers,

The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill. Everyone has been impacted.

Including your favourite business and financial newspaper. Our printing and distribution chains have been severely disrupted across the country, leaving readers without access to newspapers. Newspaper delivery agents have also been unable to service their customers because of multiple restrictions.

In these difficult times, we, at BusinessLine have been working continuously every day so that you are informed about all the developments – whether on the pandemic, on policy responses, or the impact on the world of business and finance. Our team has been working round the clock to keep track of developments so that you – the reader – gets accurate information and actionable insights so that you can protect your jobs, businesses, finances and investments.

We are trying our best to ensure the newspaper reaches your hands every day. We have also ensured that even if your paper is not delivered, you can access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute, so that you can access the information you want anywhere, anytime.

But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. Sustaining our quality journalism has become extremely challenging. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.

I appeal to all or readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. Doing so is easy. You can help us enormously simply by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section that offers rich investment advice from our highly qualified, in-house Research Bureau, the only such team in the Indian newspaper industry.

A little help from you can make a huge difference to the cause of quality journalism!

Support Quality Journalism
This article is closed for comments.
Please Email the Editor
You have read 1 out of 3 free articles for this week. For full access, please subscribe and get unlimited access to all sections.