Breaking News

You are here » Indian-Commodity  :  IPO  :  Route Mobile files DRHP with SEBI for IPO

23-Jan2018

Route Mobile files DRHP with SEBI for IPO

Route Mobile has filed Draft Red Herring Prospectus (DRHP) with markets regulator Securities and Exchange Board of India (SEBI) to raise an estimated Rs 600 crore through an initial share-sale. The Initial Public Offer (IPO) will comprise fresh issue of shares worth Rs 350 crore and an offer for sale of up to 65 lakh shares by founders Sandipkumar Gupta and Rajdipkumar Gupta.

The funds raised through the issue will be used towards investment in Route Mobile (UK) for payment of the loan availed from Deutsche Bank AG as well as for acquisitions and other strategic initiatives. The proceeds will also be used for investment in subsidiaries for purchase of office premises in London and Singapore; purchase of business process outsourcing centre in Noida and for other general corporate purposes.

Motilal Oswal Investment Advisors, Yes Securities and IDBI Capital Markets and Securities are book running lead managers to the issue.

Incorporated in 2004, Route Mobile is among the leading cloud- communication platform service providers to enterprises, over-the-top players and mobile network operators. The company's revenue from operations stood at Rs 463.09 crore in 2016-17, while profit after tax was at Rs 60.63 crore.


Related News

View all news

Spandana Sphoorty gets SEBI's nod for IPO

Spandana Sphoorty Financial has received markets regulator Securities and Exchange Board of India's (SEBI) approval to raise funds through an initial public offering (IPO). The IPO consists of fresh issue......

Bharat Hotels gets SEBI's approval for IPO

Bharat Hotels has received markets regulator Securities and Exchange Board of India's (SEBI) approval to raise funds through an initial public offering (IPO). The IPO comprises sale of fresh equity shares......

Chartered Speed files DRHP with SEBI for public issue

Fleet bus operators Chartered Speed has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise an estimated Rs 273 crore through an Initial......

Top News

View all news

SRF, NIIT Technologies and United Bank of India to see some action today

SRF has entered into a definitive agreement to sell its Engineering Plastics Business to DSM, the Life Sciences and Materials Sciences Company in an all-cash transaction, amounting to Rs 320 crore. The......

NIIT Technologies concludes sale of 88.99% stake in ESRI India Technologies

NIIT Technologies has concluded the sale of 88.99% equity shares in ESRI India Technologies, India to Environment Systems Research Institute Inc., USA. Consequent to above sale, ESRI India Technologies,......

United Bank of India to raise Rs 1,500 crore by various means

United Bank of India has received approval to raise equity capital not exceeding Rs 1,500 crore in one or more tranches during the financial year by way of Qualified Institutions Placement, Public Issue,......