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).
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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.