InvestorQ : What was the final subscription for the IPO of Route Mobile as of Friday close?
sara Kunju made post

What was the final subscription for the IPO of Route Mobile as of Friday close?

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Mary Joseph answered.
3 months ago
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The Route Mobile IPO which opened on 09 September closed for subscription on 11 September. At the close of the third day, the IPO was oversubscribed 73 times. Just 2 days earlier, the Happiest Minds IPO also got a 151 times oversubscription, closing a busy week.

In the IPO, Route Mobile had offered 1.71 crore shares in the price band of Rs.345-350 and considering the oversubscription, the final price is likely to be set at Rs.350. The Rs.600 crore IPO consisting of new issue and OFS, got bids for 89 crore shares against 1.21 crore issued.

As per the final tally, the QIB portion was subscribed 91 times, HNI portion 195.6 times and the retail portion got 12.85 times oversubscribed. The IPO is expected to be listed on 21 September. The funds raised will be used to repay debt and make strategic acquisition.

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