Fatpipe Networks

Fatpipe Networks opens IPO for subscription

Ragula Bhaskar

Fatpipe Networks India has opened its Initial Public Offering (IPO) of Rs 49-crore for subscription. The price band has been fixed at Rs 82-85 a share and the issue is set to close on June 9, 2010.

Raghula Bhaskar, MD of Fatpipe Networks has said that the company is raising the money for expanding its presence in the US and also opening marketing offices around the world.

He added that the company gets its cost and the sales both in the US and hence is protected against currency fluctuations. It is expected to deliver 30-40% revenue from its business from outside US.