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Route Mobile Ltd.

BSE: 543228 Sector: IT
NSE: ROUTE ISIN Code: INE450U01017
BSE 00:00 | 06 Oct 1391.40 -3.25
(-0.23%)
OPEN

1381.80

HIGH

1430.00

LOW

1381.80

NSE 00:00 | 06 Oct 1390.55 -1.75
(-0.13%)
OPEN

1399.30

HIGH

1430.00

LOW

1380.00

OPEN 1381.80
PREVIOUS CLOSE 1394.65
VOLUME 20417
52-Week high 2388.10
52-Week low 1052.60
P/E 175.24
Mkt Cap.(Rs cr) 8,739
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 1381.80
CLOSE 1394.65
VOLUME 20417
52-Week high 2388.10
52-Week low 1052.60
P/E 175.24
Mkt Cap.(Rs cr) 8,739
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Route Mobile Ltd. (ROUTE) - Company History

The Company was incorporated on 14 May 2004 with the name Routesms Solutions Limited which was changed to Route Mobile Limited with effect from 16 March 2016. Route Mobile is a publicly listed company and among the leading Cloud Communications Platform service provider offering Communication Platform as a Service (CPaaS) solutions. The company cater to enterprises over-the-top (OTT) players and mobile network operators (MNO) and the service portfolio comprises solutions in messaging voice email SMS filtering analytics and monetization. The company provides an entire communication product stack based on a CPaaS principals infusing Conversational AI across a broad range of industries including social media companies banks and financial institutions e-commerce entities and travel aggregators.The operations are internally aligned into the following business verticals: (i) enterprise and OTT; (ii) mobile operator; and (iii) business process outsourcing (BPO). Route Mobile is headquartered in Mumbai India with a global presence in the Asia Pacific Middle East Africa Europe and the Americas..As on 31 March 2019 the Company has 9 direct subsidiaries and 12 step down subsidiaries.During the FY 2018-19 Defero Mobile Pte. Ltd. (step down subsidiary) was deregistered. As the part of the expansion strategy 5 new step-down subsidiaries were incorporated viz. Route Connect Private Limited Route Mobile Nepal Private limited Route Mobile (Bangladesh) Limited Route Mobile Malta Limited and Route SMS Solutions Zambia Limited. During the FY 2019-20 Route Mobile Hong Kong Limited (step down subsidiary) was deregistered. As the part of the expansion strategyone new step-down subsidiary was incorporated viz. Spectrum Telecom FZ-LLC. As on 31 March 2020 the Company has 9 direct subsidiaries and 12 step down subsidiaries.During the FY2020the company adjudged as Fastest growing companies in Technology & Telecom sector and overall 2nd in the UK's top fastest growing Indian companies in the UK 2020 in the 7th edition of the Grant Thornton India meets Britain Tracker. Also Route Mobile Wins the Best Messaging Innovation - Consumer Solution Award at Messaging and SMS Global Awards London. Route Mobile (UK) Limited the wholly owned subsidiary in the United Kingdom received an honourable recognition of being amongst the fastest growing companies in Technology & Telecom sector and overall 45th in the UK's top fastest growing Indian companies in the UK 2021.As on 31 March 2021the company had 21 subsidiaries including 16 overseas subsidiaries and step downSubsidiaries.The Company has entered into a share purchase agreement (SPA) dated 29 April 2021 to acquire Phonon Communications Private Limited (Phonon) a leading communications automation platform provider for total consideration of Rs 2900 lakhs. Due to non-fulfilment of the conditions precedents by Phonon the acquisition is no longer being pursued and the share purchase agreement shall stand cancelled.The Company has entered into a Business transfer agreement (BTA) dated 1 July 2021 with Sarv Webs Private Limited for acquisition of primarily intellectual property ('software') and its associated identified customer contracts on a slump sale basis for upfront purchase consideration of Rs 2625 lakhs and a deferred consideration of Rs 400 lakhs payable on the first anniversary of the closing of the acquisition in cash. The acquisition has been completed on 5 July 2021. The Company is in the process of determination of the fair value of consideration transferred assets acquired and liabilities assumed. The Company made its maiden public offer of equity shares during the Quarter ended 30 September 2020 of equity shares in accordance with SEBI (Issue of Capital and Disclosure Requirements) Regulations 2018 wherein 6857142 Equity Shares were issued through fresh Issue and 10285714 Equity Shares through offer for sale. The IPO comprised of fresh issue of Rs 240 crore and an offer for sale of Rs 360 crore by the selling shareholders.The public issue was opened on 09 September 2020 and closed on 11 September 2020 at an offer price of Rs 350/- per equity Share (including a share premium of Rs 340/- per equity Share). The shares were allotted on 16 September 2020 at an Offer price of Rs 350 per equity share. The Equity shares of the Company were listed on BSE Limited and National Stock Exchange of India Limited (NSE Limited) with effect from 21 September 2021.

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