 "IPO market")
The initial public offer (IPO) of Route Mobile, a cloud communications service provider, opens for public subscription today. The company proposes to raise Rs 600 crore through the IPO which comprises fresh issue of shares worth Rs 240 crore and an offer for sale (OFS) of Rs 360 crore by promoters -- Y Sandipkumar Gupta and Rajdipkumar Gupta.
A price band of Rs 345-350 apiece per share has been fixed for the IPO that will conclude on September 11. On Tuesday, the company garnered Rs 180 crore from 15 anchor investors including the likes of Goldman Sachs, Franklin Templeton Mutual
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