Route Mobile IPO Open Date, Price Band, GMP, Review & Allotment Details

Route Mobile IPO opens on September 9 and issue will close on September 11; price band set at Rs 345-350. Route Mobile plans to raise Rs 600 crore via public issue.


Route Mobile Limited IPO, RML is cloud communications service provider Route Mobile is Mumbai based, has fixed a price band of ₹345-350 per share for its ₹600-crore initial public offering (IPO) that will open on September 9 and issue will close on September 11.

Check here details of Route Mobile Limited IPO date, IPO offer price, lot size, subscription, Route Mobile IPO allotment and listings date, grey market price and other details like the company’s background and more.

Route Mobile IPO

About Route Mobile Limited

Route Mobile, is cloud communications service provider established in 2004, Route Mobile catering to enterprises, over-the-top (OTT) players and mobile network operators (MNO). Our portfolio comprises of smart solutions in Messaging, Voice, Email and SMS Filtering, Analytics and Monetization.

Route Mobile, formerly known as RouteSms Solutions Ltd, was founded in 2004, with offices in Mumbai, Pune and London.

RML has offices in Canada (Toronto), Congo, Nigeria (Lagos), and the UAE, besides Hyderabad and New Delhi. It employs close to 300 people.

Route Mobile IPO Details

IPO DateOpens on September 9, 2020 & Closes on September 11, 2020
Issue TypeBook Built Issue IPO
Issue SizeRaise around Rs 600 crores by selling 17,142,856 share
Fresh IssueFresh Issue of 68,57,142 Shares @350/- = Rs.240.00Crs
Offer for SaleOffer for Sale of 1,02,85,714 Shares @350/- = Rs.360Crs
Face Value of₹10 per equity share
IPO PricePrice Band of Rs345 – Rs350 per Equity Share
Market Lot40 Shares and in multiples of 40 Equity Shares thereafter & Maximum 560 Shares
Minimum AmountMinimum Amount: ₹14,000
Maximum Amount: ₹196,000
Allotment DateSeptember 16, 2020
Listing onBSE, NSE

Route Mobile Promoter

Route Mobile Limited (RML) is a global provider of communication service. Promoters Sandipkumar Gupta, Non-Executive Director, and Rajdipkumar Gupta, Managing Director.

Route Mobile IPO Subscription Status Today

Latest Route Mobile IPO status on today, IPO received 4.15 times bids so far on Day 2 of the bidding process on Thursday.

As per data available with NSE, the Route Mobile IPO issue received bids for 5,05,09,920 shares by the end of the day, which was 4.15 times the total issue size of 1,21,73,912 shares.

Route Mobile IPO Date

Route Mobile IPO (initial public offering) subscription opens on September 9 and closes on September 11.

Route Mobile IPO Price Band

Happiest Minds IPO issue price band at Rs 345 to Rs 350 per equity share.

Route Mobile IPO Lot Size

The lot size of the Route Mobile IPO is minimum of 40 equity shares and in multiples of 40 equity shares thereafter. 

Route Mobile IPO Minimum lot of 40 shares of Rs 14,000 and Maximum investment of 14 lots of 560 stocks at Rs.196,000 at The face value of the equity share is Rs 10 each.

Route Mobile Limited IPO Issue Size

RML plans to raise Rs 600 crore via public issue which comprises a fresh issue of up to Rs 240 crore, Also, existing promoters would offer shares aggregating up to Rs 360 crore in an offer for sale (OFS).

This would include shares worth up to Rs 180 crore by Sandipkumar Gupta and up to Rs 180 crore by Rajdipkumar Gupta.

Route Mobile IPO Objects

Route Mobile Limited will utilise the fresh issue proceeds towards funding for repayment or pre-payment of certain borrowings; acquisitions and other strategic initiatives; purchase of office premises in Mumbai; and general corporate purposes.

Route Mobile IPO Grey Market Premium

Route Mobile IPO GMP or grey market premium on the issue has risen by Rs 220 – Rs 225 a share over the IPO price band of Rs 345-350 a share.

Route Mobile Limited IPO Review:

Route Mobile IPO Subscribe for Short Term and Long Term View.

Route Mobile Company Financial

As of December 2017, the company has over 23,000 clients. Company’s global operations included eight direct and seven step-down subsidiaries serving clients through 15 locations across Africa, Asia Pacific, Europe, Middle East and North America.

Revenue and PAT the fiscal year 2016-17, revenue from operations stood at Rs 463.1 crore and profit after tax at Rs 60.63 crore.

Route Mobile IPO Listed on NSE & BSE

RML equity shares after the completion of a public issue will be listed on the National Stock Exchange and on BSE Limited.

Route Mobile IPO BRLM

RML IPO book running lead managers (BRLM) appointed for the public issue are ICICI Securities, Axis Capital, Edelweiss Financial Services and IDBI Capital Markets & Securities. KFin Technologies is appointed as the registrar to the offer.

Route Mobile IPO Allotment Status Date and Listing

The company will finalise ipo allotment on September 14, while the refunds or unblocking of funds from ASBA accounts which did not get any share in allotment will take place on September 17.

Shares will be credited to accounts of eligible investors on September 18 and the trading in shares will commence from September 21.

Route Mobile IPO allotment status will be available on KFin Technologies’ website.


How to Apply the Route Mobile IPO Online and Offline?

You can apply Route Mobile IPO via ASBA online via your bank account. You can apply ASBA online via UPI through your stock brokers. You can also apply offline via your stock brokers by filling up the offline form.

What is Route Mobile IPO Allotment Date?

Route Mobile IPO allotment date is 16 September 2020

How to Check Route Mobile IPO Allotment Status?

Route Mobile IPO allotment date is 16 September 2020. You can check Route Mobile IPO allotment status on KFin Technologies’ website.

What is Route Mobile Stock Listing Date?

Route Mobile Stock listing date is 21 September 2020. The IPO to list on NSE and BSE.

Happiest Minds IPO will be open for public subscription on September 7 Check Details Here:


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