11,633.30-45.2
Stock Analysis, IPO, Mutual Funds, Bonds & More

Route Mobile gets Sebi nod for IPO

The company had earlier received Sebi nod for the IPO in 2018 as well, which had expired. ​

ETMarkets.com|
Last Updated: Jan 01, 2020, 06.41 PM IST
0Comments
Shutterstock.com
shutterstock_1140138833
Incorporated in 2004, Route Mobile is among the leading cloud- communication platform service providers to enterprises, over-the-top players and mobile network operators.
Mumbai: Cloud communication platform provider Route Mobile has received market regulator Securities and Exchange Board of India’s (Sebi) nod to raise an estimated Rs 600 crore through the Initial Public Offering (IPO) route, markets sources said.

The company had earlier received Sebi nod for the IPO in 2018 as well, which had expired.

The offer comprises of fresh shares worth Rs 240 crore and shares worth Rs 360 crore of promoters Sandipkumar Gupta and Rajdipkumar Gupta.

ICICI Securities, Axis Capital, Edelweiss Financial Services and IDBI Capital Markets & Securities are merchant bankers managing Route Mobile’s IPO.

Route Mobile plans to utilize the proceeds from the sale towards repayment and advance payment of certain borrowings, for acquisitions and other strategic initiatives, for the purchase of office premises, and an undisclosed amount for general corporate purposes.

Incorporated in 2004, Route Mobile is among the leading cloud- communication platform service providers to enterprises, over-the-top players and mobile network operators.

Also Read

Route Mobile gets Sebi nod for Rs 600 crore IPO

Route Mobile to buy Malta-based 365squared

Route Mobile acquires BPO Call2Connect

Shrem Group Buys 10% in Route Mobile

Comments
Add Your Comments
Commenting feature is disabled in your country/region.

Other useful Links


Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service