Route Mobile IPO: Check allotment status here

The basis of allotment for Route Mobile IPO has been finalised.

The Mumbai-headquartered company is expected to debut on bourses on September 21 with a likely final issue price of Rs 350 per share.

Its Rs 600-crore initial public offering witnessed a massive 73.3 percent subscription during September 9-11 and the price band was Rs 345-350 per share.

The company in consultation with merchant bankers is expected to finalise basis of allotment on September 16 and the process of refunds/ASBA unlocking could take place from September 17. Equity shares are likely to be credited to eligible investors on September 18 and the listing date could be September 21.

>> Select "Equity" in Issue Type;

>> Select "Route Mobile" from the dropdown;

>> Enter your "Application Number";

>> Enter your "PAN Number (Permanent Account Number)";

>> And click on the "Search" button.

>> Select IPO "Route Mobile" from the dropdown.

>> In "Application Type" box Select "ASBA" or "NON ASBA";

>> Enter your "Application Number";

>> Enter "Captcha" mentioned in digits-and-letters in above table;

>> And click on the "Submit" button.

>> Select Depository "NSDL" or CDSL";

>> Enter DPID (depository participant ID);

>> Enter "Client ID";

>> Enter "Captcha" mentioned in digits-and-letters in above table;

>> And click on the "Submit" button

>> Enter your PAN number;

>> Enter "Captcha" mentioned in digits-and-letters in above table;

>> Click on the "Submit" button.

(Note: Captcha is Completely Automated Public Turing Test To Tell Computers and Humans Apart)

Ahead of likely listing next week, Route Mobile share price continued to trade at a premium of Rs 160-190 per share over the expected final issue price of Rs 350 per share in the grey market, citing stellar response to the IPO, sources familiar with the development told Moneycontrol.

Route Mobile provides cloud communication platform as a service (CPaaS) to enterprises, over-the-top (OTT) players and mobile network operators (MNOs). Its enterprise segment provides a cloud-based communication platform to enterprises, while mobile operations segment include services such as SMS analytics, firewall, filtering, monetisation and CPaaS (cloud-communication platform as a service) and hubbing solutions.

Company's IPO consisted of a fresh issue of Rs 240 crore and offer for sale of Rs 360 crore by promoters Sandipkumar Gupta and Rajdipkumar Gupta. The fresh issue proceeds will be used for repayment of certain loans, acquisitions and other strategic initiatives, purchase of office premises in the Mumbai region and general corporate purposes.

Its global operations included 9 direct and 12 step-down subsidiaries serving its clients through 18 locations across Africa, Asia Pacific, Europe, Middle East and North America. The company generates over 80 percent of its revenue in foreign currency.

As of June 2020, Route Mobile had served more than 30,150 clients since its inception. The company has direct relationships with over 240 mobile network operators (MNOs).