ValueFirst Messaging IPO

Posted by admin

February 7, 2011

ValueFirst Messaging Pvt Ltd , which provides mobility and communication services to enterprises, said on Thursday it has raised 700 million rupees to fund acquisition plans. The company, which enables enterprises to communicate between back-end IT systems and mobile phones, said it is also planning an initial public offering in the next 18 to 24 months.

ValueFirst said it raised funds from a wholly-owned subsidiary of The Headland Asian Ventures Fund 3 Ltd, a fund advised by Headland Capital Partners Ltd, with participation from existing investor New Enterprise Associates.

Equirus Capital was the exclusive advisor to ValueFirst for the transaction. ValueFirst said it now has more than 1 billion rupees to fund acquisitions in India and overseas to expand its offerings in SMS, voice, WAP, media and applications.

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