by Sachin Murdeshwar

Mumbai, September 8, 2020: Route Mobile, the leading Omni channel Cloud Communication Service Provider (CPaaS),to enterprises, over-the-top (“OTT”) players and mobile network operators (“MNOs”), with a client base including the world’s largest and well known organizations across social media companies, banking and financial services, aviation, retail, e-commerce, logistics, healthcare, hospitality, telecom sector; will open its initial public offering on September 9, 2020 and will close on September 11, 2020, with a price band of ₹ 345 – ₹ 350per Equity Share.

According to the regulatory filing, Route Mobile has finalized the allocation of 51,42,856 shares at Rs 350 apiece to 15 anchor investors. Based on the price the total proceeds would be to the tune of 180 crores.

The company found interest and participation from well-known institutions across the globe particularly US, UK and Asia besides participation from some large mutual funds in India. The participants to the anchor investor bidding were Franklin Templeton Mutual Fund, Goldman Sachs, SBI Life Insurance, Kuwait Investment Authority, Vantage Equity Fund, Axis Mutual Fund, Macquarie, Theleme Master Fund, SBI Mutual Fund, ICICI Prudential, Nippon India, Aditya Birla Sun Life, IIFL, Trust & Services Custody Bank , trustee of Wells Capital and Mirae Asset Mutual Fund

A total of 7 Mutual funds have applied through 15 schemes

The Company is proposing to raise ₹600.00 crore via the fresh issue of ₹240 crore and OFS of ₹360 crore. Utilization of the Net Proceeds will be towards funding for repayment or pre-payment, in full or part, of certain borrowings of the Company; acquisitions and other strategic initiatives; purchase of office premises in Mumbai; and general corporate purposes.

Sr. No.	Name of the Anchor Investor	No. of Equity Shares allocated	No. of Equity Shares allocated as a Percentage of Equity Shares allocated under the Anchor Investor Portion (%)	Bid Price/Anchor Allocation Price (Rs. Per Equity Share)	Total Amount Allocated (Rs.)
1	FRANKLIN INDIA SMALLER COMPANIES FUND	3,94,840	7.68%	350.00	13,81,94,000.00
2	GOLDMAN SACHS INDIA LIMITED	3,94,840	7.68%	350.00	13,81,94,000.00
3	SBI LIFE INSURANCE CO. LTD	3,94,840	7.68%	350.00	13,81,94,000.00
4	KUWAIT INVESTMENT AUTHORITY FUND 225	3,94,840	7.68%	350.00	13,81,94,000.00
5	VANTAGE EQUITY FUND	3,94,840	7.68%	350.00	13,81,94,000.00
6	AXIS MUTUAL FUND TRUSTEE LIMITED A/C AXIS MUTUAL FUND A/C AXIS SMALL CAP FUND	3,94,840	7.68%	350.00	13,81,94,000.00
7	MACQUARIE UNIT TRUST SERIES- MACQUARIE ASIA NEW STARS FUND	2,97,320	5.78%	350.00	10,40,62,000.00
8	THELEME MASTER FUND LIMITED	2,97,320	5.78%	350.00	10,40,62,000.00
9	SBI CONTRA FUND	2,85,680	5.55%	350.00	9,99,88,000.00
10	ADITYA BIRLA SUN LIFE TRUSTEE PRIVATE LIMITED A/C ADITYA BIRLA SUN LIFE SMALL CAP FUND	2,80,320	5.45%	350.00	9,81,12,000.00
11	IIFL SPECIAL OPPORTUNITIES FUND – SERIES 7	1,99,939	3.89%	350.00	6,99,78,650.00
12	TRUST AND  CUSTODY SERVICES BANK, LTD. AS TRUSTEE FOR WELLS CAPITAL EMERGING EQUITY MOTHERFUND	1,99,938	3.89%	350.00	6,99,78,300.00
13	ICICI PRUDENTIAL MIDCAP FUND	1,97,400	3.84%	350.00	6,90,90,000.00
14	MIRAE ASSET TAX SAVER FUND MIRAATSFD	1,85,659	3.61%	350.00	6,49,80,650.00
15	RELIANCE CAPITAL TRUSTEE CO LTD-A/C NIPPON INDIA SMALL CAP FUND	1,73,440	3.37%	350.00	6,07,04,000.00
16	RELIANCE CAPITAL TRUSTEE CO LTD-A/C NIPPON INDIA CAPITAL BUILDER FUND IV – SERIES C	1,42,840	2.78%	350.00	4,99,94,000.00
17	ADITYA BIRLA SUN LIFE TRUSTEE PRIVATE LIMITED A/C ADITYA BIRLA SUN LIFE DIGITAL INDIA FUND	1,14,520	2.23%	350.00	4,00,82,000.00
18	ICICI PRUDENTIAL TECHNOLOGY FUND	98,720	1.92%	350.00	3,45,52,000.00
19	ICICI PRUDENTIAL VALUE FUND – SERIES 20	98,720	1.92%	350.00	3,45,52,000.00
20	SBI TECHNOLOGY OPPORTUNITIES FUND	85,720	1.67%	350.00	3,00,02,000.00
21	RELIANCE CAPITAL TRUSTEE CO LTD-A/C NIPPON INDIA CAPITAL BUILDER FUND IV – SERIES D	78,560	1.53%	350.00	2,74,96,000.00
22	SBI TAX ADVANTAGE FUND SERIES II	23,440	0.46%	350.00	82,04,000.00
23	MIRAE ASSET EQUITY SAVINGS FUND	14,280	0.28%	350.00	49,98,000.00
	Total	51,42,856	100.00%		1,79,99,99,600.00

Brokerage houses like Hem Securities, Choice Capital, Asit C Mehta Investment Intermediates, Religare Broking have given the issue a subscribe rating with a long term view considering its diverse offerings to enterprises across a broad range of industries, established presence in all major geographies, continuous investment in technology, product and service offerings, its focus on innovation besides the company’s leadership in the cloud communications space along with the industries future prospects and positive trends

ICICI Securities Limited, Axis Capital Limited, Edelweiss Financial Services Limited and IDBI Capital Markets & Securities Limited have been appointed as the BRLMs to the issue.