Value added services provider Planet 41 Mobi-Venture today said it will come up with a research and development (R&D) centre in Mumbai that will develop content and applications for 2G, 3G mobile networks and Long Term Evolution (LTE).
"We are planning to set-up a dedicated research & development centre (R&D) in Mumbai and another one in Bangalore or in Pune. The Mumbai centre will be operational by April 2011," Planet 41 Mobi-Venture CEO Somil Gupta told PTI.
The company plans to invest Rs 16 crore in the next three years in developing R&D centres and in doing research in the fields of the mobile applications.
"With the launch of 3G services we want to concentrate more on this sector (VAS) and for this we are planning to invest Rs 16 crore in our business in next three years," Gupta added.
Recently, the company had filed for initial public offer to raise Rs 50 crore and is awaiting approval from market regulator SEBI.
The company will offer about 12 per cent out of the total 39 lakh shares offered for the public subscription to anchor investors, Gupta added.
The company has appointed Keynote Capitals Ltd as its merchant banker for the public offer.
The company has recently started offering its services to Uninor and is already providing its services to Vodafone, Reliance Communication, Idea Cellular, Etisalat, Aircel, Tata Teleservices, Shubam-Motiwala, Biguine, Exhale Spa, Fortune (ITC Welcome Group), Bawa International (for mobile marketing), among others.
