Route Mobile IPO subscribed 2.32 times on day 2

The retail individual investors (RIIs) category was subscribed 4.01 times.

Sep 10, 2020 02:09 IST India Infoline News Service

Initial Public Offer, IPO
Route Mobile's IPO has been subscribed 2.32 times so far on September 10, the second day of bidding. The IPO has received bids for 2.55 crore equity shares against offer size of over 1.21 crore equity shares, the data available on the exchanges showed.

As per the stock exchange data, the qualified institutional buyers (QIBs) category was subscribed 0.04 times. The non-institutional investors' category was subscribed 1.41 times. The retail individual investors (RIIs) category was subscribed 4.01 times.

The IPO on Wednesday has oversubscribed by over 1.02 times on day 1 led by a healthy response from retail investors.

The IPO will be available for subscription till September 14, 2020. Through the issue, the company plans to raise about Rs600cr.

The price band for the IPO is set at the lower end of Rs345 per share and the upper end of Rs350 per share.

Companies like ICICI Securities, Axis Capital, Edelweiss Financial Services and IDBI Capital Markets are acting as the book running lead managers (BLRM).

Related Story