Info-tech

Route Mobile raises ₹867 crore via QIP

Our Bureau Mumbai | Updated on November 19, 2021

Route Mobile Limited, a Communication Platform as a Service (CPaS) provider to enterprises, over-the-top players, and mobile network operators, announced that it has successfully raised ₹867 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.”

Published on November 19, 2021

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