Route Mobile Ltd., a cloud service provider will launch its initial public offering (IPO) next week estimated from date September 11, 2020 and closing on 16 September 2020 to raise Rs 600 crore through fresh issue and OFS.
The Mumbai based company is a leading Cloud Communication Platform provider, catering to enterprises, over-the-top (OTT) players and mobile network operators (MNO). Incorporated in 2004, it is currently has clients in 19+ locations across Africa, Asia Pacific, Europe, Middle East and North America.
The public offer comprises a fresh issue worth Rs 240 crore and an offer for sale (OFS) of Rs 360 crore by promoters, Y Sandipkumar Gupta and Rajdipkumar Gupta, as per the draft red herring prospectus (DRHP) filed by the company.
According to sources, the share is going to be price band at Rs 350- Rs 370 of Rs 10 face value units. The minimum lot size is going to be a minimum of 40 shares.
The company had received approval from regulator SEBI in December 2019 to float the IPO. The cloud service provider had initially filed for its IPO in January 2018 and later it refiled in October 2019.
ICICI Securities, Axis Capital, Edelweiss Financial Services and IDBI Capital Markets & Securities are the managers to the issue.
Book your seat & join us today for an Insightful #webinar on #ViberBusinessMessaging. Enjoy the knowledge-sharing session with informative use cases over this widely used #enhancedbusinesscommunication platform
To registerhttps://t.co/q352d6WYkV#Viber #Philippines #filipino pic.twitter.com/8TbCIvFrqE
— Route Mobile (@routemobile) September 3, 2020
