Route Mobile IPO allotment status: Investors can check the subscription status on the online portal of Karvy Computershare Private, the registrar to the IPO
After the initial public offering (IPO) of Route Mobile, which received strong response from investors, the basis of allotment of shares to the eligible investors has been finalised. Investors can check the subscription status on the online portal of Karvy Computershare Private, the registrar to Route Mobile IPO.
The shares will be credited to the demat accounts of investors ahead of its listing on the domestic bourses. The shares of cloud communication platform provider are expected to debut on BSE on September 21 at an upper price band of Rs 350 per share.
The Rs 600-crore Route Mobile IPO opened for subscription on September 9 and closed on September 11. A day ahead of opening of IPO, the Mumbai-headquartered company raised Rs 180 crore from anchor investors.
The IPO, which had price band of Rs 345-350, was subscribed 73.3 times as it received bids for 89.2 crore shares against the total issue size of 1.21 crore shares. The portion set aside for qualified institutional investors was subscribed 89.76 times, while quota for non-institutional investors was subscribed 192.28 times. The portion reserved for retail investors was subscribed 12.66 times.
The company intends to use the fund proceeds for repayment or pre-payment, in full or part, of certain borrowings of the company, acquisitions and other strategic initiatives, purchase of office premises in Mumbai, and general corporate purposes.
Here's how you can check Route Mobile IPO allotment status.
First mode to check allotment status
Second mode to check allotment status