Street signs: Route Mobile IPO, brokers eye tech improvement, and more

Last week, low-cost brokerage 5paisa.com appointed former Flipkart chief technology officer Ravi Garikipati on its board as an independent director

Route sees grey market demand

Route Mobile shares are commanding a premium of more than 50 per cent in the grey market ahead of its Rs 600-crore initial public offering (IPO). According to market players, the premium had shot up to 70 per cent but has come off a bit following last week’s correction. “Being a mobile technology company, there is huge growth potential. Also, the sector has been less impacted by the Covid-19 pandemic,” said an analyst. Route Mobile’s IPO opens on Wednesday and is priced at Rs 345-Rs 350 per share. The IPO comprises Rs 340 crore fresh