OnMobile Global, a company engaged in telecom value-added services (VAS), announced that the board of directors of the company at its meeting held on Dec. 11, 2014, has decided on buy-back of company's equity shares of Rs 10 each.

The above buy-back will be carried through stock exchange mechanism in accordance with the provisions of Section 68, 69 and 70 of the Companies Act, 2013 read with Securities and Exchange Board of India (Buyback) Regulations, 1998 and amendments thereto, at a price not exceeding Rs 86 equity share payable in cash for an aggregate amount not exceeding Rs 490 million.

Shares of the company gained Rs 3.45, or 4.99%, to trade at Rs 72.60. The total volume of shares traded was 145,013 at the BSE (10.25 a.m., Friday).