Route Mobile IPO ends with robust subscription
12-Sep-20   09:05 Hrs IST

The initial public offer (IPO) of Route Mobile received bids for 89.23 crore shares as against 1.21 crore shares on offer, as per the National Stock Exchange of India (NSE) website data. The issue was subscribed 73.30 times.

The non-institutional investors category was subscribed 192.81 times. The qualified institutional buyers (QIBs) category was subscribed 89.76 times. The retail individual investors (RIIs) category was subscribed 12.67 times.

The issue opened for bidding on Wednesday, 9 September 2020 and closed on Friday, 11 September 2020. The price band for the IPO was set at Rs 345-350 per share.

The IPO comprised fresh issue of up to Rs 240 crore and offer for sale of equity shares by existing promoters aggregating to Rs 360 crore.

The company on 8 September 2020 raised around Rs 180 crore from anchor investors, ahead of its initial share sale. The company allotted 51.42 lakh shares at a price of Rs 350 per share to a total of 15 anchor investors.

The anchor investors include Franklin Templeton Mutual Fund, Goldman Sachs, SBI Life Insurance, Kuwait Investment Authority, Vantage Equity Fund, Axis Mutual Fund, Macquarie, Theleme Master Fund, SBI Mutual Fund, ICICI Prudential, Nippon India, Aditya Birla Sun Life, IIFL, Trust & Services Custody Bank as trustee of Wells Capital and Mirae Asset Mutual Fund. A total of seven mutual funds have applied through 15 schemes for anchor allotment.

The net proceeds from the issue will be utilized to fund repayment or pre-payment, in full or part, of certain borrowings of about Rs 36.5 crore; acquisitions and other strategic initiatives of about Rs 83 crore; purchase of office premises in Mumbai of about Rs 65 crore; and general corporate purposes.

On a consolidated basis, Route Mobile recorded sales of Rs 309.61 crore and net profit of Rs 27.09 crore in the quarter ended on 30 June 2020.

Route Mobile (RML) is a cloud communications platform service provider (CPaaS), catering to enterprises, over-the-top (OTT) players and mobile network operators (MNO). It offer a range of cloud communication services to clients across diverse sectors including but not limited to banking and financial services, aviation, retail, e-commerce, logistics, healthcare, hospitality, media and entertainment, pharmaceuticals and telecom.

The Mumbai-headquartered telecom solutions provider has presence in 18 locations in Asia Pacific, Middle East, Africa, Europe and North America. More than 30,150 clients had been served by end June 2020 since inception in 2004.

Powered by Capital Market - Live News

Attention Investors:
KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc), you need not undergo the same process again when you approach another intermediary. No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account. Prevent Unauthorized Transactions in your Demat account\Trading account: Update your Mobile Number with your Depository Participant\Exchange. Receive alerts on your Registered Mobile for all debit and other important transactions in your Demat account\Trading account directly from Depository\Exchange on the same day.........issued in the interest of investors.
The Stock Exchange, Mumbai is not in any manner answerable, responsible or liable to any person or persons for any acts of omission or commission, errors, mistakes and/or violation, actual or perceived, by us or our partners, agents, associates etc., of any of the Rules, Regulations, Bye-laws of the Stock Exchange, Mumbai, SEBI Act or any other laws in force from time to time. The Stock Exchange, Mumbai is not answerable, responsible or liable for any information on this Website or for any services rendered by our employees, our servants, and us.
Disclosure of Proprietary Account Trading by Members to Clients
Proprietary Trading Disclosure:In terms of provisions of the Rules, Bye-Laws and Business Rules of the Exchange and with reference to circular MCX/T&S/147/2016 dated May 17, 2016 regarding Disclosure of Proprietary Account Trading by broker to client.,Pursuant to SEBI Circular Number SEBI/MRD/SEC/Cir-42/2003 dated November 19, 2003 & SEBI/HO/CDMRD/DMP/CIR/P/2016/49 dated April 25, 2016 GOODWILL WEALTH MANAGEMENT PVT LTD. Discloses to its clients about its policies on proprietary trades. Goodwill does proprietary trading in the derivatives segment at MCX respectively.GOODWILL – SEBI Reg No. INZ000049087
Copyright © 2016 All rights Reserved GOODWILL
Designed, Developed and content powered by CMOTS Infotech ( ISO 9001:2015 certified )
Filing complaints on SEBI Complaint Redress System (SCORES)
– Easy & quick
  • Register on SCORES portal
  • Mandatory details for filing complaints on SCORES:
    • Name, PAN, Address, Mobile Number, E-mail ID.
  • Benefits:
    • Effective communication
    • Speedy redressal of the grievances.
You can file complaints on SCORES through