SEBI's nod for Route Mobile IPO
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.