Route Mobile has raised Rs 867.5 crore through qualified institutional placement (QIP). The company has allotted over 46.84 lakh equity shares via qualified institutional placement at the issue price of Rs 1,852 per equity share (including a premium of Rs 1,842 per equity share).
Pursuant to the allotment under the QIP, the paid-up equity share capital of the company stands increased from Rs 57,91,26,920 consisting of 5,79,12,692 equity shares to Rs 62,59,68,080 consisting of 6,25,96,808 equity shares.
Route Mobile is a cloud communications platform service provider, catering to enterprises, over-the-top (OTT) players, and mobile network operators (MNO).
