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Route Mobile IPO – Fundamentally strong business priced reasonably

With a strong financial performance and cutting-edge technology, coupled with reasonable valuation, the RML public issue looks to be a good bet

September 09, 2020 / 02:10 PM IST
Route Mobile IPO – Fundamentally strong business priced reasonably

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

The initial public offer of Route Mobile Ltd (RML) is coming at a time when the Covid-19 pandemic is providing sufficient tailwind to the company. With a strong financial performance and cutting-edge technology, coupled with reasonable valuation, the RML public issue looks to be a good bet. The Issue The issue size at the upper end of the price band (Rs 345- Rs 350) is Rs 600 crore, of which Rs 240 crore is fresh issue. The remaining Rs 360 crore...

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