Fatpipe Networks India which entered the capital markets with a first public offering (IPO) on June 7 has withdrawn its issue.
In spite of various efforts the company to get full subscription for the offer. The company had extended its public issue till June 14 from the earlier closing date of June 9. It had also altered price band to Rs 80-85 a share from the prior price of Rs 82-85.
The issue was subscribed just 0.88 times. Non-institutional investors reserved portion got subscribed 2.12 times followed by qualified institutional and retail investors. The company provides global corporations and government offices with technology that boosts the security and reliability of Wide Area Networks, Corporate extranets, Virtual Private Networks and all last-mile Internet connections, including wireless connectivity.
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