InvestorQ : What has been the IPO subscription response on the first day of the Route Mobile IPO?
Tisha Malhotra made post

What has been the IPO subscription response on the first day of the Route Mobile IPO?

Answer
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Aashna Tripathi answered.
3 weeks ago


Route Mobile IPO which opened for subscription on 09 September was already fully subscribed at the end of the first day of the IPO. It may be recollected that Route Mobile had raised Rs.180 crore from 15 anchor investors like Goldman Sachs, SBI Life, SBI MF etc.

The IPO offers 1.71 crore shares at a price band of Rs.345-350. It will consist of Rs.240 crore of fresh issue and Rs.360 crore of OFS taking the total size of the issue to Rs.600 crore. The IPO will remain open till 11 September. Promoter stake will be down to 66.3% post IPO.

For the retail investor category with upper investment limit of Rs.2 lakhs, minimum lot size for the IPO will be bid of 40 shares or multiples thereof. The shares of Route Mobile, a cloud solutions provider, are expected to be listed on the stock exchanges on 21 September.