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Route Mobile files draft IPO prospectus to SEBI

January 23, 2018

Route Mobile Limited, a provider of cloud-communication platform services, has filed the draft red herring prospectus (DRHP) for its initial public offering (IPO) with the Securities and Exchange Board of India (SEBI). According to the draft prospectus, the share sale will include a fresh issue worth Rs 3.50 billion, while the promoters will offer 6.5 million shares in an offer for sale. Further, the share sale is expected to be for around Rs 6 billion.

The company has hired Motilal Oswal Investment Advisors Limited, IDBI Capital Markets and Securities Limited and YES Securities (India) Limited to manage the public offering.

Moreover, the company is also considering a pre-IPO placement of Rs 1.25 billion. According to the DRHP, if the pre-IPO placement is completed, the size of the offer will be reduced to the extent of such pre-IPO placement.

The proceeds from the fresh issue will be utilised for investment in Route Mobile (UK) Limited for repayment of the loan availed from Deutsche Bank AG, repayment or pre-payment of certain existing loan facilities of the company, acquisitions and other strategic initiatives, investment in subsidiaries for purchase of office premises in London and Singapore, purchase of business process outsourcing centre in Noida, Uttar Pradesh and to meet general corporate expenses.

Route Mobile provides cloud-communication platform services to enterprises, over-the-top (OTT) players and mobile network operators. The company provides services such as messaging, voice, email and SMS filtering, analytics and monetisation to clients across different sectors including banking and financial services, aviation, retail, e-commerce, logistics, healthcare, hospitality, media and entertainment, pharmaceuticals and telecom.


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