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    Home » Route Mobile IPO: Today 600 million IPO of Route Mobile is opening, what
    Business

    Route Mobile IPO: Today 600 million IPO of Route Mobile is opening, what

    Archana SharmaBy Archana SharmaSeptember 9, 2020Updated:September 9, 2020No Comments
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    Indigo Paints IPO: Shares of Indigo Paints will be available on January 28, there are 2 ways to check status
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    IPO Market: After a long drought, there is a stir in the primary market. In this order, the IPO of Root Mobile is opening today i.e. on 9 September. The route will raise Rs 600 crore from the market through mobile IPO. In which the promoters are going to sell their shares worth Rs 360 crores. The company will issue new shares worth Rs 240 crore. This issue will be open from 9 September to 11 September. Let us know that the IPO of Happiest Minds was opened in September, which got a great response from the investors.

    Route Mobile IPO Price band

    For the IPO, the company has fixed the price band, which will be Rs 345-350 per share. While the lot size will be 40 shares. That is, you have to apply for at least 40 shares. The company said that the IPO will open from September 9 and will close on September 11.
    After this issue, the promoters’ stake in the company will fall from 96 per cent to 66 per cent. The company will use the proceeds from this issue to reduce debt, buy offices and make strategic acquisitions.

    Learn about the company

    The company was started in the year 2004. The company primarily serves as an omnichannel cloud communication service for OTTs and mobile network operators (MNOs). The company has a large customer base including the world’s largest social media companies, banking and financial services, aviation, retail, e-commerce, logistics, health, hospitality and telecom sectors.

    Financial performance of the company

    The company’s revenue stood at Rs 309.6 crore for the quarter ended June 30, compared to Rs 956.2 crore for the financial year 2019-20. During the financial year 2017-18 to 2019-20, the company’s revenue reached Rs 956.3 crore with a growth of 37.6 percent. Net profit of the company increased to Rs 69.1 at 21.6 percent.

    What should be the bet?

    Nirali Shah, Senior Research Analyst, SAMCO Securities, says that the growth of Root Mobile has been very good for the last 2 years. Both profit and revenue saw spectacular growth. But there are some factors which can affect the long term growth of the company. Its core business communication is based. Therefore, the company is going to get tough competition from other big companies in this sector. The liabilities are very high on the company’s books, which is about 55 percent of the balance sheet. This may lead to a working capital stress. The valuation is also more visible. In such a situation, long-term investors should avoid Nivea right now. This IPO is suitable for investors with high risk appetite.

     

    Source: www.financialexpress.com

    #Route #Mobile #IPO #Today #million #IPO #Route #Mobile #opening

    communication business ipo market route mobile route mobile ipo business route mobile ipo open should you subscribe route mobile ipo
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    Archana Sharma
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