Route Mobile lists at Rs. 708 in comparison to its issue price of the Rs. 350 per share, which is a huge premium of 102%.
Ahead of its listing, the shares of Route Mobile settle at Rs. 717 per share.
The company from the cloud communication segment enjoying a market leadership position was expected to list with stellar gains on the back of strong management and financials plus heavy subscription. Expected digitalization post Covid 19 era is also making brokerages and experts bullish on the prospects of Route Mobile.
Experts expected the listing premium to be to the tune of 55-70% i.e. a listing of Rs. 550- 600 per share.
Route Mobile's growth story seems positive considering its leading position in cloud-communication, OTT segment and MNOs space.
In the grey market, ahead of its listing, the counter enjoyed a premium of over Rs. 200 per share against the final IPO price.