Fatpipe Networks, a leader in wide area networking (WAN) solutions, will tap the capital market with an initial public offer of equity shares for Rs. 49 crore through book-building process.
It has set a price band of Rs. 82-85 and the issue is open from June 7 to 9. The proceeds will be utilised for expanding product lines, R&D and for setting up 16 marketing offices across the world and for funding strategic acquisitions.
According to Ragula Bhaskar, Chairman & Managing Director, Fatpipe had developed a product line which would bond multiple data lines from multiple data providers including 2G and 3G into a single WAN globally through router clustering technology. The technology involves patented and patent pending methods that provide highest level of optimisation, reliability, security and acceleration of wide area network (WAN).
Fatpipe sells its products worldwide through a network of authorised distributors and resellers in the U.S., the U.K. Australia, India, Europe and Brazil.
