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Updated on: Friday, November 19, 2021, 10:38 AM IST

Route Mobile raises fresh capital Rs 867.4 cr through QIP

Route Mobile's QIP saw interest from a mix of international and domestic investors. /
Money/ Representational Image | File photo

Route Mobile's QIP saw interest from a mix of international and domestic investors. / Money/ Representational Image | File photo

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Route Mobile Limited, CPaaS (Communication Platform as a Service) providers to enterprises, over-the-top (“OTT”) players, and mobile network operators, announced that it has successfully raised Rs 8,674.98 million (Rs 867.4 crore) via Qualified Institutional Placement (“QIP”).

The QIP saw interest from a mix of international and domestic investors. Several existing and new shareholders participated in the QIP and some of the largest investors in the QIP includes Steadview Capital Mauritius Limited, RBC Asia Pacific Ex-Japan Equity Fund, Kuber India Fund, HSBC Global Investment Funds - Asia Ex Japan Equity Smaller Companies, Societe Generale - ODI, Verdipapirfondet DNB Global Emerging Markets, Pinebridge Global Funds - Pinebridge Asia Ex Japan Small Cap Equity Fund, Pinebridge Global Funds - Pinebridge India Equity Fund.

Rajdipkumar Gupta, Managing Director and Group CEO said “We have also closed the acquisition of Masivian S.A.S., Colombia, and are pleased to announce that Masvian S.A.S. is now a step-down wholly owned subsidiary of Route Mobile Limited (w.e.f. November 11, 2021). We paid the first tranche of the total consideration of $49.04 million to consummate the acquisition. Masivian S.A.S. will help us grow in Latin America and strengthen our presence in the region.”

Established in 2004, Route Mobile Limited is a cloud communications platform service provider, catering to enterprises, OTT players and mobile network operators. RML’s portfolio comprises solutions in messaging, voice, email, SMS filtering, analytics and monetization.

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Published on: Friday, November 19, 2021, 10:38 AM IST
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