The proceeds will be used for repayment and pre-payment of loans, acquisitions and strategic initiatives amongst others, according to a company statement.

NEW DELHI: Route Mobile today said it has filed draft prospectus with the market regulator for Initial Public Offering (IPO) and plans to raise about Rs 600 crore through a combination of fresh issue and offer for sale.

The proceeds will be used for repayment and pre-payment of loans, acquisitions and strategic initiatives amongst others, according to a company statement.

“The IPO comprises of a fresh issue of up Rs 3500 million and an offer for sale of up to 6,500,000 (shares) by Sandipkumar Gupta and Rajdipkumar Gupta (promoters),” the statement added.

A total of Rs 600 crore would be raised through IPO, a company said in an email response. Route Mobile Limited is a cloud-communication platform service providers to enterprises, over-the-top players and mobile network operators.

Part of proceeds will also be used for investment in Route Mobile (UK) Ltd for repayment / prepayment of the loan availed from Deutsche Bank AG, the statement added.

“The equity shares will have a face value of Rs 10 and the price band will be decided in consultation with the Book Running Lead Managers (BRLMs),” it added.

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