A retail investor can bid for a minimal one lot, amounting to 40 shares and in multiples of 40 shares
The preliminary public provide (IPO) of Route Cell, a cloud communications platform service provider, will open for subscription on Wednesday i.e. September 9, 2020. The Rs 600 crore problem may be open for three shopping for and promoting days, from September 9 to September 11. The anchor consumers’ e book will shut for subscription on September 8, solely a day ahead of problem opening. The worth band of the problem has been mounted at Rs 345-350 per share.
Most of the people offering will comprise modern problem of as a lot as Rs 240 crore and provide available on the market (OFS) of Rs 360 crore by the prevailing promoters. A retail investor can bid for a minimal one lot, amounting to 40 shares and in multiples of 40 shares thereafter to a most of 14 tons. The shares may be listed on every, BSE and the NSE.
Route Cell plans to utilise the proceeds of the modern problem to repay / pre-pay present debt, make acquisitions, purchase office premises in Mumbai and for regular firm features.
ICICI Securities, Axis Capital, Edelweiss Financial Corporations and IDBI Capital Markets & Securities are the e book working lead managers of the availability.
Sandipkumar Gupta and Rajdipkumar Gupta are the promoter of Route Cell. Included in 2004, Route Cell has purchasers all through Africa, Asia Pacific, Europe, Heart East and North America.
Route Cell IPO is the fourth public offering this 12 months, after the SBI Enjoying playing cards and Payment Corporations’ share sale in March, Rossari Biotech’s itemizing in July and the continued Happiest Minds IPO. The Route Cell IPO comes at a time when India continues to battle with the Covid19 pandemic, with every day case rely touching 90,000.
