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Route Mobile IPO: Allotment status expected tomorrow, here’s how to check –

The Mumbai-headquartered Route Mobile is expected to start trading 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.

Also read: Happiest Minds Technologies IPO: Check allotment status here

Investors, who have subscribed for the public offer, can check their IPO allotment status through two available options:

Option 1

You can check your allotment status through the website of Registrar – KFin Technologies appointed for IPO:

>> Select IPO “Route Mobile” from the dropdown.

Via “Application Number” option,
>> 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.

Via “DPID/Client Number” option,
>> 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

Via PAN Number option, then
>> 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)

Option 2

Click on this link provided by the BSE, where you can check the status of your IPO application.
>> 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.

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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 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. 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).