Kotak Mahindra Bank has upped its stake in India’s largest value-added service (VAS) company, Onmobile Global, to 5.89%, by acquisition of additional 12 lakh shares. The bank earlier held 55.8 lakh shares in the company, aggregating to 4.85% stake in the company.
On July 3, HDFC Mutual Fund bought over 1% stake in Onmobile through an open market transaction. HDFC Mutual Fund A/C Growth Fund bought 1.73 million shares representing 1.5% stake of the company at Rs 30.97. While Goldman Sachs Investments, Mauritius, on July 2, bought 1.2 million shares of the company.
Onmobile Global offers contest management, content aggregation and distribution, voice short codes, mCommerce solutions, missed call alerts, multimedia push services, mobile advertising, mobile search, ringtones, ringback tones, personalized music greetings, mobile media portals, phone backup, voiceportals, and voice SMS.
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