Cellebrum, a mobile value added services company of B K Modi’s Spice Telecom, plans to go in for an IPO next year, says a report. The report further goes on to say that the company will raise Rs 1,000 crore from the IPO (I think that looks like an error since Rs 1,000 crore or $225 million is huge money to be raised for a value added services company. I suspect it’s the valuation of the company as the same report says).
The money raised from the IPO will be used to set up operations in Bangalore, Kolkata, and Mumbai; and expand the existing locations at Parwanoo and Noida. The company also plans to go in for a pre-IPO placement with a VC or a private equity fund.
Related:
Delhi’s Cellebrum Looking To Acquire Mobile Gaming Companies
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