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Monday, October 26, 2020

Route Mobile Share Price: Route Mobile makes a bumper stock market debut; settles 86% above issue price on BSE

Route Mobile Share Price Today: Nearly 2.92 crore (2,91,89,660) shares of Route Mobile were traded on the NSE during the day, while nearly 27.27 lakh (27,26,932) shares exchanged hands on the BSE, data from the respective stock exchanges showed.

By: Express Web Desk | New Delhi | Updated: September 21, 2020 4:53:55 pm
Image source: Twitter/Route_Mobile

Route Mobile Share Price Today: The shares of Route Mobile made a bumper stock market debut on Monday, getting listed at Rs 717.00 per share on the National Stock Exchange (NSE), up 104.86 per cent from its offer price of Rs 350.00 apiece.

On the BSE, the Route Mobile stock got listed at Rs 708.00 apiece, up 102.29 per cent from the issue price.

The stock eventually settled at Rs 651.10 apiece on the BSE, thereby registering an 86.03 per cent rise on the issue price. While on NSE, it ended the first day at Rs 650.30 per share, rising 85.80 per cent. During the day, the stock has hit a high of Rs 735.00 on both NSE and BSE, while on the lower side, it has hit a low of Rs 625.00 on both the bourses.

Nearly 2.92 crore (2,91,89,660) shares of Route Mobile were traded on the NSE during the day, while nearly 27.27 lakh (27,26,932) shares exchanged hands on the BSE, data from the respective stock exchanges showed.

Route Mobile IPO met with a great response during its offer period. The Rs 600 crore IPO of the Mumbai-based cloud communication platform provider was subscribed 73.30 times by September 11, its last day of bidding. The price range for the Route Mobile IPO was fixed at Rs 345-350 per share.

The IPO was subscribed 192.81 times by Non Institutional Investors and 89.76 times by Qualified Institutional Buyers(QIBs) during September 9-11. Retail Individual Investors(RIIs) also garnered 12.67 times subscription.

Before heading into the IPO subscription, Route Mobile had raised Rs 180 crore from 15 anchor investors.

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