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Route Mobile mops up Rs 180 crore from 15 anchor

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Route Cell, the omnichannel cloud communication service supplier (CPaaS), has garnered Rs 180 crore from 15 anchor traders on September 8, a day forward of IPO opening.

SBI Mutual Fund, SBI Life Insurance coverage, Goldman Sachs, ICIC Prudential, Franklin Templeton, Kuwait Funding Authority, Vantage Fairness, and Axis Mutual Fund amongst 15 traders participated for the anchor e-book.

“In anchor traders portion within the public challenge of Route Cell, 51,42,856 fairness shares have been subscribed at Rs 350 per fairness share,” mentioned the corporate in its assertion revealed on exchanges.

The cloud communication service supplier will open its Rs 600-crore preliminary public providing (IPO) on September 9 and the identical will shut on September 11.

Route Cell IPO to open on September 9: Do you have to subscribe?

The worth band has been mounted at Rs 345-350 per fairness share.

The general public challenge consists a recent challenge of Rs 240 crore and a proposal on the market of Rs 360 crore by promoters.

Route Cell will utilise recent challenge proceeds for compensation of sure borrowings; acquisitions and different strategic initiatives; buy of workplace premises in Mumbai; and normal company functions.

ICICI Securities, Axis Capital, Edelweiss Monetary Companies and IDBI Capital Markets & Securities are e-book operating lead managers to the problem.

Route Cell IPO to open on September 9: 10 key issues you need to know

Established in 2004, Route Cell gives cloud communications platform companies to enterprises, over-the-top (OTT) gamers and cellular community operators (MNO).

First Printed on Sep 8, 2020 09:23 pm

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