Open Market Through Stock Exchange | ₹120.00 Crores | Listing at BSE, NSE | Mon, Jul 11, 2022 - Mon, Aug 29, 2022
Route Mobile Ltd. Buyback is a tender offer for the repurchase of up to equity shares at a buyback price of ₹1700 per share with a face value of ₹10 per share, aggregating to ₹120.00 crores.
The buyback opens on Jul 11, 2022 and closes on Aug 29, 2022.
Edelweiss Financial Services Ltd. is the Manager to the Buyback and Kfin Technologies Ltd. is the Registrar and Edelweiss Securities Limited is the Registered Broker to the Buyback.
Investors are advised to refer to the Route Mobile Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Mon, Jul 11, 2022
Offer Closing Date
Mon, Aug 29, 2022
Buyback Price
₹1700 per share
Record Date
[.]
| Particulars | For the year/period ended (Rs. in Crore) | ||
|---|---|---|---|
| 31-Mar-22 | 31-Mar-21 | 31-Mar-20 | |
| Total Income | 2,002.09 | 1,422.16 | 968.10 |
| Profit After Tax | 170.08 | 132.76 | 58.20 |
| Net Worth | 1,672.57 | 652.11 | 269.38 |
| Reserves and Surplus | 1,609.70 | 594.40 | 219.38 |
Incorporated in 2004, Route Mobile is one of the leading Cloud Communications Platform service providers offering Communication Platform as a Service (CPaaS) solutions. The company caters to enterprises, over-the-top (OTT) players, and mobile network operators (MNO). Route Mobile's portfolio comprises solutions in messaging, voice, email, SMS filtering, analytics, and monetization.
The company offers products such as A2P messaging, 2-way messaging, WhatsApp, Google and Viber business message platforms, truecaller verified business identity solutions, mail2sms solutions, number lookup services, etc.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Dec-2021 | 1,920.00 | 1,666.00 | 1,770.14 |
| Jan-2022 | 1,935.00 | 1,480.00 | 1,778.20 |
| Feb-2022 | 1,886.60 | 1,396.00 | 1,632.06 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Dec-2021 | 1,923.20 | 1,663.25 | 1,770.46 |
| Jan-2022 | 1,935.60 | 1,480.00 | 1,777.95 |
| Feb-2022 | 1,888.90 | 1,396.00 | 1,631.92 |
The buyback is being undertaken for the following reasons:
1. Utilise the available surplus funds, which are in excess of the surplus amount needed to be retained by the company for future growth over a medium term.
2. The Buyback would help in improving the return on equity, based on the consumption that the company would earn similar profits as in the past and increasing shareholder value in the long term.
Route Mobile Ltd.
4th Dimension,
3rd Floor, Mind Space Malad (West),
Mumbai - 400 064,
Mumbai, Maharashtra, 400064
Lead Manager(s)
Registered Broker
The Route Mobile Buyback opens on July 11, 2022, and closes on August 29, 2022.
The Route Mobile Buyback is a Open Market Through Stock Exchange.
Route Mobile Buyback Schedule
| Buyback Opening Date | July 11, 2022 |
| Buyback Closing Date | August 29, 2022 |
| Last date for acceptance of shares | Upon relevant pay-out by the Stock exchange |
The Route Mobile Buyback is being offered at Rs ₹1700 per share.
There is no ratio applicable in case of open market offer through stock exchange mechanism.
The Route Mobile Buyback has announced a buyback for an aggregate amount of not more than Rs. ₹120.00 Crores with pricing of Rs. ₹1700 per share.
The buyback is being undertaken for the following reasons:
1. Utilise the available surplus funds, which are in excess of the surplus amount needed to be retained by the company for future growth over a medium term.
2. The Buyback would help in improving the return on equity, based on the consumption that the company would earn similar profits as in the past and increasing shareholder value in the long term.
Any equity shareholder holding the shares in Demat form can participate in the buyback offer through their stockbroker. The physical shareholder can participate only once the shares get converted into a Dematerialized form.
The shareholder needs to inform their broker on the details of the Equity shares they wish to sell. The broker will place a sell order whenever the company places a buy order for the buyback. The trade would get executed at the offer price or lesser only when the price offered by the shareholder matches with the buy order placed by the company.
The Route Mobile Buyback offers an opportunity for the shareholders to exit their positions at a premium price. In case you stay invested you would have an increased percentage of shareholding in the company and improved earnings per share. Thus, one should understand the company fundamentals along with one's need, goals, and risk appetite to decide if one wants to stay invested or participate in the buyback offer.
