SEBI's nod for Route Mo­bile IPO

India Business Journal - - NEWS ROUND-UP -

Mes­sag­ing and voice ap­pli­ca­tion pro­gram­ming in­ter­face com­pany Route Mo­bile has re­ceived reg­u­la­tory nod to float an ini­tial public of­fer (IPO). The pro­posed IPO, if it turns out a suc­cess, will make Route Mo­bile the first com­pany in the mo­bile com­mu­ni­ca­tion ser­vices seg­ment to go public. The SEBI is­sued its fi­nal ob­ser­va­tions to Route Mo­bile's IPO pro­posal last month, ac­cord­ing to the web­site of the cap­i­tal mar­kets reg­u­la­tor. Route Mo­bile had filed its draft prospec­tus with the SEBI in Jan­uary. The IPO com­prises fresh shares worth Rs 350 crore and 65 lakh shares of pro­mot­ers Sandip­ku­mar Gupta and Ra­jdip­ku­mar Gupta.

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