Route Mobile IPO
Route Mobile IPO — date, price band, lot size & details 2020
Route Mobile listed on 21 Sep 2020 at ₹717, 104.9% above the ₹350 issue price.
Route Mobile provides cloud communication platform as a service (CPaaS) to enterprises, over the top players and mobile network operators. Its total income was Rs 968.10 crore in FY2020.
Stock price
Route Mobile is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 09 Sep 2020
- Close 11 Sep 2020
- Allotment 16 Sep 2020
- Refund/credit 17 Sep 2020
- Listing 21 Sep 2020
Issue summary
The terms of the offer, as filed.
| IPO Dates | 9 to 11 Sep, 2020 |
|---|---|
| Price Band | ₹345 – ₹350 |
| Face Value | ₹10 |
| Lot Size | 40 Shares |
| Issue Size | ₹600 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 14,000 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 40 shares at the ₹350 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 40 | ₹14,000 |
| Retail (max) | 14 | 560 | ₹1,96,000 |
| S-HNI (min) | 15 | 600 | ₹2,10,000 |
| S-HNI (max) | 71 | 2,840 | ₹9,94,000 |
| B-HNI (min) | 72 | 2,880 | ₹10,08,000 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 509.49 crore in FY2018 to Rs 968.10 crore in FY2020.
- 02Profit after tax rose from Rs 46.68 crore in FY2018 to Rs 69.10 crore in FY2020.
- 03It is directly connected to over 240 mobile network operators and reaches over 800.
- 04Total borrowing fell from Rs 81.63 crore in FY2018 to Rs 41.87 crore in FY2020.
- 05Net worth rose from Rs 160.85 crore in FY2018 to Rs 297.02 crore on 30 June 2020.
Risks · 5
- 01Its ten largest clients gave 63.65% of revenue in the three months to 30 June 2020.
- 02Its largest client alone gave 15.45% of revenue in that quarter.
- 03Profit after tax was Rs 69.10 crore on total income of Rs 968.10 crore in FY2020, so margins are thin.
- 04Messaging demand can shift to OTT apps, and its 18 locations bring currency exposure.
- 05Promoters and the promoter group held 96% before the issue and 66.33% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Route Mobile offer document.
| Metric | 30 Jun 2020 | 31 Mar 2020 | 31 Mar 2019 | 31 Mar 2018 |
|---|---|---|---|---|
| Assets | 634.83 | 626.55 | 505.78 | 447.37 |
| Total Income | 312.30 | 968.10 | 852.38 | 509.49 |
| Profit After Tax | 26.93 | 69.10 | 54.53 | 46.68 |
| EBITDA | 40.30 | 111.67 | 99.96 | 80.14 |
| NET Worth | 297.02 | 270.37 | 211.78 | 160.85 |
| Reserves and Surplus | 244.69 | 218.19 | 159.90 | 110.19 |
| Total Borrowing | 43.25 | 41.87 | 77.52 | 81.63 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Where the money goes
₹187.59 Cr of the issue is earmarked to named objects.
About the company
It offers messaging, voice, email, SMS filtering, analytics and monetization services. Its back end is directly integrated with over 240 mobile network operators and gives access to over 800 operators worldwide, as of 30 June 2020.
The ROCCO Report 2020 quoted in its RHP ranked it as a tier one application to peer (A2P) messaging provider internationally. It reported over 30,150 clients and 18 locations as of June 2020.
The IPO was Rs 600 crore, with Rs 240.00 crore of fresh issue and Rs 360.00 crore of offer for sale by the promoters. The fresh money was for repaying debt, acquisitions, buying office premises in Mumbai and general purposes.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Route Mobile IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Axis Capital
126 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
ICICI Securities
133 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
IDBI Capital Markets & Securities Ltd.
12 issues handledBest listing: Bharat Coking Coal (+95.7%). Weakest: Inox Green Energy Services (-7.7%).
Edelweiss Financial Services Ltd
17 issues handledBest listing: Burger King India (+87.5%). Weakest: Lodha Developers (-10.3%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Route Mobile?
The current Grey Market Premium is ₹280, or 80% over the issue price.
What is the Route Mobile IPO price band?
₹345 to ₹350, on a face value of ₹10.
When is the allotment?
The basis of allotment is 16 September 2020, with listing on 21 September 2020.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
