Route Mobile Limited IPO – Review, Allotment, Subscription, GMP & DRHP

Let’s have a detailed review of the company and analytics of the Route Mobile IPO release date, IPO offer price, subscription, Route Mobile Limited IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.

Face ValueRs 10
Price BandRs 345 – 350
Listing AtBSE, NSE
Min. Order Quantity40
Listing Date Sep 21, 2020
Offer for SaleRs 3600 MILLION
Fresh IssueRs 2,400 MILLION
IPO SizeRs 6,000 MILLION
Tick Size1.00

Route Mobile IPO is listed at 105% premium, check out the live share price by clicking on the below link.

Route Mobile Share Price – Live Performance

Route Mobile IPO – Summary

Route Mobile Limited IPO

They provide cloud-communication platform as a service (“CPaaS”) to enterprises, over-the-top (“OTT”) players and mobile network operators (“MNOs”).

Their enterprise solution comprises two primary components – the front-end that provides an interface for enterprises to integrate with, and a back-end which is directly integrated with over 240 MNOs, and provides access to over 800 MNOs across the globe, as of June 30, 2020, enabling them to leverage their SMS and voice channels for digital communication (“Super Network”).

Further, the backend is also integrated with OTT business messaging solution providers, and is capable of supporting Rich Communication Services (“RCS”) business messaging, offering multiple channels of communication to enterprises.

Their omni-channel platform enables enterprises to leverage various modes of digital communication to engage with their stakeholders – including customers, employees and vendors.

The Promoter of this company is Sandipkumar Gupta and Rajdipkumar Gupta. The lead managers to the issue are ICICI Securities Limited, IDBI Capital Markets & Securities Limited, Axis Capital Limited and Edelweiss Financial Services Limited, and the Registrar to this issue is KFin Technologies Private Limited.


Route Mobile IPO Date

The opening and the closing date of IPO of Route Mobile Limited is Sep 9, 2020 and Sep 11, 2020.


Route Mobile Limited IPO Subscription

Day / DateQIBNIIRIITotal Subscription
1st Day – Sep 90.01x0.46x 1.80x1.00x
2nd Day – Sep 10 1.25x2.04x 6.71x4.15x
3rd Day – Sep 1189.76x 192.81x 12.68x 73.30x 
Shares Offered or Net Issue3,478,259 2,608,696 6,086,957 12,173,912

The shares subscribed by the public will be updated here.


Route Mobile Limited IPO Allotment Status

Here, you can find the Allotment Status of this IPO.

Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment status is not yet disclosed.

Route Mobile Limited IPO Listing Date

Find the dates below on basis of allotment, refund, listing and more:

Basis of Allotment FinalizationSep 16, 2020
Refunds InitiationSep 17, 2020
Credit of Shares to Demat AccountSep 18, 2020
Share Listing DateSep 21, 2020

Route Mobile IPO Price Band / Cash Price

The face value of each share is Rs 10, but the price band of the IPO is Rs 345 – 350. 


Route Mobile IPO Equity Size

This Initial Public Issue of 17,391,303 Equity Shares of Rs.10 each for cash at a price of Rs.345 – 350 per equity share aggregating to Rs.6,000 million.


Route Mobile IPO Share Offering

Fresh Issue: The Fresh Issue of [●] Equity Shares by their Company, aggregating to Rs.2,400 million,

Issue Size: 17,391,303 Equity Shares of Rs.10 each, aggregating to Rs.6,000 million

Offer for Sale: Offer for sale consists of Up to [●] Equity Shares of face value of Rs.10 each, aggregating Rs.3,600 million.


Route Mobile IPO – Live Performance

The listing date of this IPO is Sep 21, 2020. You can check the live performance of the IPO here, only after it is listed on exchanges.

Live IPO Performance – Route Mobile Share Price

Route Mobile IPO Grey Market Premium

The Route Mobile Limited IPO Grey Market Premium price is Rs 190-200, the Kostak rate is Rs 700 and the Subject to Sauda is 4000. 


Route Mobile IPO – Company Overview

Their range of enterprise communication services include application-to-peer (“A2P”) / peer-to-application (“P2A”) / 2Way Messaging, RCS, OTT business messaging, voice, email, and omni-channel communication. Further, they also offer SMS analytics, firewall, filtering and monetization, SMS hubbing and Instant Virtual Number (“IVN”) solutions to MNOs across the globe.

Their clients include some of the world’s largest and well-known organisations, including a number of Fortune Global 500 companies.

They were incorporated in 2004 and are headquartered in Mumbai, India. As of June 30, 2020, they have serviced over 30,150 clients, cumulatively since inception, across sectors including social media, banking and financial services, aviation, retail, internet/ e-commerce, logistics, healthcare, hospitality, media and entertainment, pharmaceuticals and telecom.

As on the date of this Red Herring Prospectus, their global operations included nine direct and 12 step-down subsidiaries serving their clients through 18 locations across Africa, Asia Pacific, Europe, Middle East and North America.

Route Mobile IPO Business Verticals

Their operations are internally aligned into the following business verticals:

(i) enterprise;

(ii) mobile operator; and

(iii) business process outsourcing (“BPO”).


Route Mobile IPO – Financial Statements

A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:

Financial Summary:

Amount (in INR & millions)
30-Jun-2031-Mar-20Mar-1931-Mar-18
Total Assets6,348.316,265.485,057.814,473.66
Total Revenue3,122.959,681.028,523.775,094.85
Total Expense2,790.098,839.827,873.744,529.91
Profit After Tax269.34691.02545.32466.77

Earnings per Equity Share (in Millions)

30-Jun-2031-Mar-19Mar-1831-Mar-17
Basic & Diluted5.4213.8311.199.57

Their EBITDA for Fiscal 2018, 2019 and 2020, and the three months ended June 30, 2020 was Rs.801.35 million, Rs.999.63 million, Rs.1,116.67 million and Rs.402.99 million and their EBITDA margins for the same periods were 15.73%,
11.73%, 11.53% and 12.90%, respectively.

Their profit for the year/ period, for Fiscal 2018, 2019 and 2020 and the three months ended June 30, 2020 was Rs.466.77 million, Rs.545.32 million, Rs.691.02 million and Rs.269.34 million, respectively.

Revenue from their operations were Rs.5,049.48 million, Rs.8,446.68 million, Rs.9,562.52 million and Rs.3,096.14
million in Fiscal 2018, 2019 and 2020, and in the three months ended June 30, 2020, respectively.


Route Mobile Limited IPO – Promoters

The Promoter of this company are:

  1. Sandipkumar Gupta 
  2. Rajdipkumar Gupta.

List of Related Parties (Key Managerial Personnel)

  • Gautam Badalia, Chief Strategy Officer
  • Suresh Jankar, Chief Financial Officer
  • Rathindra Das, Company Secretary and Compliance Officer

Competitive Strengths of Route Mobile Limited

  • Omni-channel cloud communication platform service provider with diversified service offerings for enterprises
  • MNO focused suite of products
  • Global connectivity through established relationships with MNOs
  • Diversified and global client base across industries serviced locally
  • Scalable delivery platform supported by robust infrastructure
  • Robust business model and consistent financial track record
  • Experienced Promoters and senior management team

Route Mobile Limited IPO Offer Details or Issue Details

 Particulars No. Of Equity Shares
 Equity Shares Offered Up to [●] Equity Shares aggregating up to Rs.6,000 million
of which:
Fresh issueUp to [●] Equity Shares aggregating up to Rs.2,400
million
Offer For Sale
Up to [●] Equity Shares aggregating up to Rs. 3,600
million
 Net Issue to the Public
 Of which:
QIB PortionNot more than [●] Equity Shares
 Retail Investors Portion Not less than [●] Equity Shares
 Non-Retail Investors PortionNot less  than [●] Equity Shares
 Equity Shares outstanding prior to the Issue50,000,000 Equity Shares
 Equity Shares outstanding after the Issue[●] Equity Shares

Route Mobile IPO Issue Object

Their Company proposes to utilise the Net Proceeds towards funding the following objects:

1. Repayment or pre-payment, in full or part, of certain borrowings of their Company;
2. Acquisitions and other strategic initiatives;
3. Purchase of office premises in Mumbai; and
4. General corporate purposes.

Business strategies of Route Mobile Limited

  • Continue to develop omni-channel digital communication offerings and innovative solutions
  • Continue to focus on developer community program
  • Enhance service offerings through inorganic opportunities
  • Grow presence in additional markets to serve clients locally
  • Leverage their CPaaS platform and BPO expertise to deliver virtual contact centre solutions

Route Mobile Limited IPO – Basis of the Offer Price

The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.

Qualitative factors are:

  • Omni-channel cloud communication platform service provider with diversified service offerings for enterprises;
  • MNO focused suite of products;
  • Global connectivity through established relationships with MNOs;
  • Diversified and global client base across industries serviced locally;
  • Scalable delivery platform supported by robust infrastructure;
  • Robust business model and consistent financial track record; and
  • Experienced Promoters and senior management team.

The relevant quantitative factors are:

Basic & Diluted EPSRONW (%)NAV (Rs.)
31-Mar-2013.8325.58%54.07
31-Mar-1911.1926.42%
31-Mar-189.5729.74%

Route Mobile IPO : Competitive Peers

There are no listed entities in India whose business portfolio is comparable with that of their business.


Route Mobile IPO Lead Managers

Lead Managers
ICICI Securities Limited

Axis Capital Limited

Edelweiss Financial Services Limited

IDBI Capital Markets & Securities Limited

Route Mobile IPO Registrar to offer

Registrar to the Offer
KFin Technologies Private Limited
Selenium Tower B, Plot 31 and32,
Gachibowli, Financial District,
Nanakramguda, Serilingampally, Hyderabad
500 032, Telangana, India
Tel: +91 40 6716 2222
Email: einward.ris@kfintech.com
Website: www.kfintech.com
Contact Person: M Murali Krishna

Route Mobile IPO – Other Details

  • Statutory Auditor – Walker Chandiok & Co LLP
  • Legal Counsel to the Company – M/s. Crawford Bayley & Co.
  • Bankers to the Company –  Kotak Mahindra Bank Limited, HDFC Bank Limited, Deutsche Bank AG, Axis Bank Limited


Route Mobile Limited IPO Review by Top 10 Stock Brokers

Top Stock Brokers ReviewCompany ReputationCompetitive EdgeFinancial StatementPopularity IndexPromoters Reputation
Angel Broking7.5/107.4/108.5/108.1/107.1/10
Sharekhan7.2/107.1/108.6/108.1/107.2/10
Kotak Securities7.3/107.5/108.4/108.1/107.3/10
ICICI Direct7.3/107.3/108.7/108.1/107.1/10
IIFL7.5/107.2/108.8/108.0/107.1/10
Edelweiss7.5/107.4/108.4/108.3/107.2/10
Zerodha7.4/107.1/108.5/108.1/107.0/10
5Paisa7.1/107.1/108.4/108.1/107.1/10
Karvy7.4/107.3/108.2/108.1/107.1/10
Motilal Oswal7.1/107.1/108.6/108.3/107.2/10

 


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