Route Mobile Ltd IPO
IPO Synopsis
IPO Synopsis
Company Overview -
Established in 2004, Route Mobile Ltd. (RML) is a leading Global Cloud Communications Platform service provider, catering to enterprises, over-the top (OTT) players and mobile network operators (MNOs). Its range of services include messaging, Rich Communication Services (RCS), OTT business messaging, voice, email and SMS filtering, omni-channel communication, analytics & monetization. Its main verticals are (i) enterprise; (ii) mobile operator; and (iii) BPO. As per industry research firms, it is one of the Tier 1 application-to-peer (A2P) service providers.
Route Mobile, among the leading Omnichannel Cloud Communication Service Provider (CPaaS), to enterprises, over-the-top players and mobile network operators. Route mobile has a large client base including world’s social media companies, banking and financial services, aviation, retail, e-commerce, logistics, healthcare, hospitality, telecom sector. Incorporated in 2004, the Company has served more than 30,150 clients since its inception, as of June 30, 2020. The Company has been ranked 2nd Globally as a tier 1 application-to-peer service provider and 1st for value added services amongst tier 1 vendors as per the “A2P SMS Messaging Vendor Performance Report 2017” dated June 2017 prepared and issued by Roaming Consulting Company Limited. The business verticals of the company include Enterprises, Mobile Operator, and Business Process Outsourcing for clients across Africa, Asia Pacific, Europe, Middle East and North America.
Issue Details -
Route Mobile IPO issue will be opening its initial public offering on September 9, 2020 and will close on September 11, 2020, with a price band of ₹ 345 – ₹ 350 per Equity Share. Bids by anchor investors shall be submitted, and allocation to them be will be completed, on September 8, 2020, being one working day prior to the Offer opening date.
The Offer comprises of the Fresh Issue (0.69 Cr shares / Rs240cr) and the Offer for Sale (1.03 Cr shares). Net Proceeds are proposed to be utilized for Debt reduction(Rs36.5cr), Acquisitions and other strategic initiatives(Rs83cr), Purchase of office premises in Mumbai(Rs65cr) and balance for general corporate purposes.