TeleNav (TNAV Holdings), which offers wireless location based services (LBS) including voice guided navigation on mobile phones, announced terms for its IPO on Monday. The Sunnyvale, CA-based company plans to raise $84 million by offering 7 million shares at a price range of $11-$13. At the mid-point of the proposed range, TeleNav will command a market value of $539 million. TeleNav, which was founded in 1999 and booked $141 million in sales last year, plans to list on the NASDAQ under the symbol TNAV. J.P. Morgan, Deutsche Bank Securities and Robert W. Baird & Co. are the lead underwriters on the deal, for which timing was not disclosed.
