IMImobile Files for Rs 305 cr IPO on London’s AIM Exchange

Mobile technology company IMImobile has filed for an Initial Public Offering at London’s junior exchange to raise £30m.
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Mobile technology company IMImobile has filed for an Initial Public Offering at London’s junior exchange to raise £30m (~Rs 305 cr).

The company is looking to list on London’s SME exchange AIM in a few weeks time. In a stock exchange filing, IMImobile said that it plans to use the money to drive further revenue and profit growth by exploiting opportunities in key verticals and geographies.

For the year ending March 2013, its sales were £38.5m with an underlying EBITDA of £6.1m (underlying EBITDA excludes share based compensation, impairment charges, acquisition costs, disposal charges and restructuring expenses).

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