Route Mobile initial public offering (IPO) basis of allotment has been finalised on Wednesday. The stock is exepcted to be listed on the exchanges on 21 September with a final issue price of Rs 350 per share, reports said.
According to a report by Money Control, the process of refunds/ASBA unlocking is likely to take place from 17 September and equity shares are expected to be credited to eligible investors on 18 September.
A report by The Economic Times said that the IPO was sold between 9 and 11 September in the price range of Rs 345-350.
As per reports, the IPO of the cloud communications service provider had garnered a strong 73.3 percent subscription last week from high net-worth individuals (HNIs) as well as institutional bidders.
However, as per a report by CNBC TV18, Route Mobile has received bids for 89.23 crore equity shares while the IPO size was just 1.2 crore shares.
The Mumbai-headquartered company has already received Rs 180 crore from 15 anchor investors including SBI Life Insurance, Franklin Templeton Mutual Fund and Goldman Sachs.
How to check Route Mobile IPO allotment:
If you have subscribed for the IPO of Route Mobile, you can check allotment status with on the BSE website:
Step 1: Go to BSE website. >Step 2: Next to Issue Type, opt for Equity.
Step 3: Under the Issue Name, use the dropdown to choose Route Mobile Limited.
Step 4: Key in your application number.
Step 5: Put in your PAN number and click on the search button.
You can also check you Route Mobile IPO allotment status on ipo.alankit.com or ris.kfintech.com.