Funds raised through the Route Mobile IPO will be used towards investment in Route Mobile (UK) Ltd fo payment of the loan availed from Deutsche Bank as well as for acquisitions and other strategic initiatives. Photo: iStockphotoMumbai: Route Mobile Ltd, a provider of cloud-communication platform services, on Monday filed the draft red herring prospectus (DRHP) for its initial public offering (IPO). “If the pre-IPO placement is completed, the size of the offer will be reduced to the extent of such pre-IPO placement,” according to the DRHP. Route Mobile provides cloud-communication platform services to enterprises, over-the-top (OTT) players and mobile network operators. In fiscal 2017, Route Mobile reported a revenue of Rs207 crore, up 7.5% compared to the previous year.

Source: Mint January 22, 2018 13:24 UTC