Fatpipe Networks India IPO is withdrawn
Fatpipe Networks India has withdrawn its initial public offer due to muted investor response to the issue, which was under-subscribed. The IPO was subscribed 88%. The IPO got bids for 53.63 lakh shares compared with 61.25 lakh shares on offer.
The bidding for the IPO began on 7 June 2010. It may be recalled that the company had extended the initial public offer till Monday, 14 June 2010, due to muted investor response. Fatpipe had earlier decided to close the issue on 9 June 2010. The company had also revised the price band to Rs 80-85 per share, from Rs 82-85 per share set earlier.
Fatpipe Networks India manufactures and markets router clustering products, which improves reliability, security and bandwidth management application of wide area networks (WAN). For the nine months ended December 2009, Fatpipe Networks India had posted net profit of Rs 5.2 crore on net sales of Rs 45.89 crore.
*To get the password for buy calls, please subscribe to this blog. You will receive the password in next email to you*If you enjoyed this post, please consider to leave a comment or subscribe to the feed and get future articles delivered to your feed reader.
Comments
No comments yet.
Leave a comment