Route Mobile’s Rs 600 crore initial public offer (IPO) received a stellar response from the investing community. The cloud communication platform provider’s IPO was subscribed 73.30 times, receiving bids for more than 89 crore shares vis-a-vis total issue size of 1,21 crore shares.
The retail investors portion was subscribed 12.67 times, non-institutional investors segment attracted bids worth 192.81 times and the portion set aside for qualified institutional buyers was subscribed 89.76 times.
The share offering consisted of fresh issue of Rs 240 crore and offer for sale (OFS) of Rs 360 crore. The price band has been fixed at Rs 345-350 per share.
Ahead of the IPO, Route Mobile raised Rs 180 crore from anchor investors, including Franklin Templeton Mutual Fund, Goldman Sachs, SBI Life Insurance, Kuwait Investment Authority and Axis Mutual Fund.
The book running lead managers of the issue were ICICI Securities, Axis Capital, Edelweiss Financial Services and IDBI Capital Markets & Securities.
Route Mobile IPO is the fourth public offering this year, following the SBI Cards and Payment Services’ share offering in March, Rossari Biotech’s share sale in July and Happiest Minds IPO at the start of the month.
How to check the allotment status of Route Mobile IPO?
The allotment status can be checked on the website of KFin Technologies i.e. https://ris.kfintech.com/ipostatus/ by selecting the IPO and entering either the application number, DPID/Client ID or PAN number.
KFin Technologies Private Limited is the registrar of Route Mobile IPO. A registrar is mandated by market regulator Sebi to allocate shares in a public offering and makes refunds, wherever applicable. The applications are processed electronically and allotment takes place as per norms laid down by the issue prospectus.
Investors can also access the BSE website i.e. https://www.bseindia.com/investors/appli_check.aspx, select the issue name ‘Route Mobile,’ from the drop down list, and entering the IPO Application No. and PAN Card No.
The shares of Route Mobile are likely to be listed on both, BSE and NSE on September 21.