New Delhi: Route Mobile shares made a strong debut on Dalal Street on Monday (September 21) with its shares rising as much as 110% to Rs 735 on the BSE as compared to its issue price of Rs 350 per shares.As of 1:05 am, Route Mobile shares traded 93.91% higher at Rs 678.70 apiece. The public offering comprised fresh issue of Rs 240 crore and offer for sale (OFS) of Rs 360 crore. Route Mobile IPO GMP looks good at an initial stage with green. Sat, 26 Sep 2020 21:48:00 GMT. If Route Mobile IPO oversubscribed in the retail category, the Route Mobile IPO shares will be distributed on a proportionate basis to Retail Individual Investors (RII). Route Mobile has fixed the price band at Rs 345-350 per share. The company proposes to use the proceeds for repayment of certain borrowings, acquisitions and other strategic initiatives, purchase of office premises in Mumbai and general corporate purposes. Route Mobile share made a strong debut on Monday delivering over 100% gains to its investors. “Current grey market premium of Route Mobile at Rs 300-Rs 310 suggests the dream run of new listings will continue which started with Happiest Minds,” said Aniruddha Sarkar, CIO, Quest Investment Advisors. Route Mobile – which offers cloud-communication platform as a service (CPaaS) to enterprises, over-the-top (OTT) players and mobile network operators (MNOs) – will be second mainboard IPO in September. Route Mobile IPO will include a public issue of 1.71 crore equity shares of Face value Rs 10 each, comprising a fresh issue of 68.57 lakh equity shares. The price band for the IPO is Rs 345 to Rs 350 per share. Route Mobile Share Price: Route Mobile makes a bumper stock market debut; settles 86% above issue price on BSE Route Mobile Share Price Today: Nearly 2.92 crore (2,91,89,660) shares of Route Mobile were traded on the NSE during the day, while nearly 27.27 lakh (27,26,932) shares exchanged hands on the BSE, data from the respective stock exchanges showed. Route Mobile IPO – Invest for short term to long term. ROUTE MOBILE LIMITED Share Price Today, Live NSE Stock Price: Get the latest ROUTE MOBILE LIMITED news, company updates, quotes, offers, annual financial reports, graph, volumes, 52 week high low, buy sell tips, balance sheet, historical charts, market performance, capitalisation, dividends, volume, profit and loss account, research, results and more details at NSE India. IPO Date. Route Mobile appears set for a strong listing on Monday as its grey market premium is around Rs 300 over its IPO price of Rs 350. Route Mobile Share: The IPO was subscribed 73.30 times, receiving bids for more than 89 crore shares as against the total issue size of 1,21 crore shares… The funds raised will be utilized to repay debt, make strategic acquisition and purchase office premises in Mumbai. 1,71,42,857 Eq Shares of Rs 10 (aggregating up to Rs 600.00 Cr) Route Mobile IPO Details. This could be one for the books, Route one has grown like clockwork over the last 5 years boasting tremendous growth rates well above the future guidance of 25% per annum! Get detailed Route Mobile stock price news and analysis, Dividend, Bonus Issue, Quarterly results information, and more. Route Mobile IPO is scheduled to open on 9 September, following the public offer of Happiest Minds which got fully subscribed on the first day. Route Mobile shares skyrocketed on the stock market debut today and traded at a price of Rs 708 per share, a premium of Rs 358 on the upper band of the issue price of Rs Rs 345-350 per equity Book Built Issue IPO. The Mumbai-headquartered company is expected to debut on bourses on September 21 with a likely final issue price of Rs 350 per share. Route Mobile Ltd.’s initial public offering (IPO) was fully subscribed on the very first day of bidding as it attracted a large influx of retail investors oversubscribing their portion. Route Mobile IPO Shares Offered. Route Mobile IPO Opens Today: The Rs 600 crore public issue will be open for three trading days till September 11, at a price band at Rs 345-350 per share. The registrar of the IPO i.e. Route Mobile Initial Public Offer: The offer IPO will be open for three trading days, from September 9 to September 11, at a price band of Rs 345-350 per share. Route Mobile Ltd IPO finalization of basis of allotment is done within a week time of IPO share bid closing date. Karvy or Link Intime finalize the Route Mobile IPO basis of allotment status. The issue was subscribed 73.30 times. Route Mobile IPO subscription will be the key for the IPO to list with good premium. Its issue price is fully priced. Route Mobile IPO Opens Today: The Rs 600 crore public issue will be open for three trading days till September 11, at a price band at Rs 345-350 per share. Grey market premium for shares of Route Mobile dropped as the IPO entered the second day of subscription on Thursday. Read more about Route Mobile IPO opens today: Here are the key things you should know on Business Standard. Investors who have placed bids for the Route Mobile IPO can check the allotment status on KFin Technologies website . Route Mobile IPO comprises fresh fund raising worth Rs 240 crore and the remaining is a secondary share sale by promoters. Sep 9, 2020 - Sep 11, 2020. Each retail investor will get a minimum of 1 lot subject to the availability of shares in the retail portion. There are no listed peers to compare whether the Route Mobile IPO Price is under priced or overpriced. Route Mobile IPO is a public issue of 12173912 equity shares. The issue offers 6086957 shares to retail individual investors, 3478259 shares to qualified institutional buyers, 2608696 share to non-institutional investors. Issue Type. Please revisit us to check the basis of allotment for Route Mobile IPO. As per the current speculations the GMP is going down from the high of 225 to 190 and it might further slip as the subscription from QIB and HNI not support but still we are very much positive that the IPO … Route Mobile, a cloud communication service provider, has fixed a price band of ₹345-350 per share for its ₹600-crore initial public offering (IPO) that will open on September 9. Route Mobile IPO: Check allotment status here. A price band of Rs 345-350 apiece per share has been fixed for the IPO that will conclude on September 11 The omni-channel cloud communication service provider plans to raise up to Rs 240 crores by issuing fresh equity and up to Rs 360 … Route Mobile revenues are consistently growing. The Rs 600 crore Route Mobile IPO received 73.30 times bids on the final day of the bidding process. Issue Size. Route Mobile IPO price band was fixed at Rs 345-350 per share. Route Mobile has set an issue price band of ₹345-350 per share, and it is already gaining attraction in the grey market. Route Mobile is a cloud communications platform service provider, catering to enterprises, over-the-top (OTT) players and mobile network operators (MNO). The issue will remain open till September 11 Route Mobile IPO: The share sale received bids for 17.63 crore shares against the total issue size of 1.21 crore shares, according to data available with the exchanges The initial public offer (IPO) of Route Mobile received bids for 89.23 crore shares today, 11 September 2020, as against 1.21 crore shares on offer, as per the National Stock Exchange of India (NSE) website data at 17:00 IST. Updated: 21 Sep 2020, 10:02 AM IST Edited By Surajit Dasgupta. The price band for the IPO was set at the lower end of Rs345 per share and the upper end of Rs350 per share. Route Mobile IPO details: Subscription Dates: 9 – 11 September 2020 Price Band: INR345 – 350 per share: Fresh issue: INR240 crore: Offer For Sale: INR360 crore Total IPO size: INR600 crore: Minimum bid (lot size) 40 shares: Face Value INR10 per share: Retail Allocation: 35%: Listing On: NSE, BSE However, considering latest nos of FY20 and June-20, P/E at 16x to 25x can be considered as fully priced. The basis of allotment for Route Mobile IPO has been finalised. Stock of Route Mobile listed at premium of 102.28% above its IPO issue price of Rs 350 on BSE. This is India’s fourth IPO since the Covid-19 pandemic disrupted the economy, following Rossari Biotech Ltd., Mindspace Business Parks REIT Ltd. and the Happiest Minds Technologies Ltd. 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