Telecommunications value-added services provider OnMobile Global surged as much as 13 per cent on the bourses after getting listed at Rs 440 on Tuesday, which is also its issue price.

Within minutes of listing, the scrip touched a high of Rs 498, and over 23.33 lakh (2.33 million) shares exchanged hands on the BSE in the first few minutes.

A similar movement was witnessed on the National Stock Exchange, where it opened at Rs 440 and touched a high of Rs 498.90. As many as 30.64 lakh (3.06 million) shares were traded on the bourse.

The company listed with 5,74,06,139 equity shares and it was trading at Rs 492.70 on BSE and at Rs 495 on NSE at 1008 hours.

The company had entered capital market with a public issue of 1.09 crore (10.9 million) equity shares.

OnMobile plans to use the issue proceeds for purchasing equipment for offices at Bangalore, Mumbai and Delhi; meeting the working capital requirements; repayment of loan and to fund expenditures for general corporate purposes.