Route Mobile gets SEBI nod to float IPO

Messaging and voice application programming interface company, Route Mobile Ltd, has received the regulatory approval to float an initial public offering. The Securities and Exchange Board of India (SEBI) issued its final observations to Route Mobile’s refiled IPO proposal on December 24, making it the 28th company to receive the regulatory clearance this year for an IPO. The Mumbai-based company had refiled its IPO on September 30.

The offer comprises fresh shares worth Rs 240 crore and shares of promoters worth Rs 360 crore. The company will use the proceeds for repayment and advance payment of certain borrowings, acquisitions, and other strategic initiatives, purchase of office premises, and for general corporate purposes.


Route Mobile had filed its IPO plan in January 2018 and received a green signal in August 2018. ICICI Securities, Axis Capital, Edelweiss Financial Services, and IDBI Capital Markets & Securities are merchant bankers, managing the IPO.


Route Mobile caters to the requirements of the mobile communications industry and offer solutions and services to mobile network operators, enterprises, over-the-top content firms, SMS aggregators, and resellers. Its client list includes ICICI Bank, State Bank of India, Skype, Emirates Airlines, Bank of Maharashtra, WeChat, and Viber. The company claims to route more than two billion messages per month over its proprietary technology.