Route Mobile IPO
Route Mobile Limited (ROUTE) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 21 September 2020.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +35.6% (likely range +18% to +56%), day's high +51.3%, chance of a gain 97%. Actual: +104.9% at the open, +110.0% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 34,78,259 | 31,22,21,040 | 89.8x | |
| NII (HNI) total | 26,08,696 | 50,29,91,040 | 193x | |
| Retail | 60,86,957 | 7,71,29,000 | 12.7x | |
| Total | 1,21,73,912 | 89,23,41,080 | 73.3x |
Bids on NSE and BSE together, as published by NSE. Shares offered exclude the anchor portion. 7% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Route Mobile's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| RITESJun 2018 | 71.7x | 195x | 15.7x | 67.2x | ₹799 Cr | +2.7% | +21.4% |
| Thyrocare TechnologiesApr 2016 | 73.2x | 225x | 8.73x | 73.5x | ₹479 Cr | +49.1% | +49.1% |
| Affle IndiaJul 2019 | 55.3x | 199x | 11.0x | 86.5x | ₹457 Cr | +24.3% | +28.7% |
| Rossari BiotechJul 2020 | 85.3x | 240x | 7.23x | 79.4x | ₹496 Cr | +57.5% | +89.0% |
| RBL BankAug 2016 | 85.1x | 198x | 5.70x | 69.6x | ₹1,219 Cr | +21.9% | +35.8% |
| Godrej AgrovetOct 2017 | 151x | 236x | 7.67x | 95.4x | ₹1,180 Cr | +33.8% | +37.0% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| ICICI Securities | 109 | +21.3% | 69% |
| Axis Capital | 107 | +20.4% | 73% |
| Edelweiss Financial Services | 16 | +25.0% | 69% |
| IDBI Capital Markets and Securities | 4 | +52.8% | 75% |
Offer documents (NSE)
Frequently asked
What is the Route Mobile IPO price band and lot size? ₹345–350 per share, with a lot of 40 shares, so the smallest retail bid is ₹14,000.
How many times has it been subscribed? 73.3x overall: QIB 89.8x, NII 193x, retail 12.7x.
How did it list? It opened at ₹717, +104.9% against the issue price of ₹350, and closed its first day +86.1%.
