Listing at 105 percent premium over its issue price, Route Mobile, a home grown, leading Cloud Communications Platform service provider based out of Mumbai, makes a stellar debut on NSE (ROUTE). The ₹600-crore public offer was set for an issue price of Rs.350 per equity share, but the shared were hiked by over 100 percent to hit Rs.725 per equity share. Manifesting huge interest from investors, the IPO of Route Mobile was subscribed almost 75 times, receiving bids for over 89 crore shares, while the total issue size was 1.21 crore shares.

Route Mobile makes its strong public entry, amidst a flurry of similar activities in the country. A few days back, Happiest Minds had made a stellar debut in while making its shares public. Following which, some of the leading tech platforms in the country like Zomato and MobiKwik had revealed their plans to go public next year.

Founded in 2004 by Rajdip Gupta, Route Mobile is one of the leading Cloud Communications Platform service providers. The company provides enterprises, MNO’s & OTT players with Communication Platform as a Service (CPaaS) & SMS firewall solutions. Route Mobile’s enterprise communication services comprise a large spectrum of offerings, including smart solutions in Messaging, Voice, Email, Identity Services, Bespoke Solutions, SMS Filtering, Analytics & Monetization. Over the years, the company has spread its wings through its data centers across 18 locations across the APAC, the Middle East, Africa, Europe, and North America.

Over the last 16 years and collected over two rounds of funding, Route Mobile has received a total of $47.5M in funding. The company has four subsidiaries presently – Call 2 Connect India Private Limited, Cellent Technologies (India) Private Limited, Route Mobile (UK) Limited, and Defero Mobile Pte. Ltd. With its successful IPO, Route Mobile has accumulated a fresh issue of ₹240 crore and an offer for sale of ₹360 crore.