Route Mobile allots 46.84 lakh shares worth Rs 868 cr under QIP issue

Route Mobile Ltd on Saturday said its Fund Raising Committee has approved the issue and allotment of over 46.84 lakh equity shares via qualified institutional placement (QIP) aggregating to Rs 867.5 crore.

In a regulatory filing, Route Mobile said its Fund Raising Committee has approved the allotment of 46,84,116 equity shares to eligible qualified institutional buyers (QIBs) at the issue price of Rs 1,852 per equity share (including a premium of Rs 1,842 per equity share).

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"...Which takes into account a discount of 4.99 per cent to the floor price of Rs 1,949.24 per equity share, aggregating to Rs 867.50 crore, pursuant to the QIP in accordance with provisions of SEBI ICDR Regulations," it added.

The QIP opened on November 8, 2021 and closed on November 12.

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", it added.

As per the filing, allottees - who have been allotted more than 5 per cent of shares of the issue size - included Steadview Capital Mauritius (17.2911 per cent), RBC Asia Pacific Ex-Japan Equity Fund (17.2488 per cent), Kuber India Fund (8.6455 per cent), HSBC Global Investment Funds - Asia Ex Japan Equity Smaller Companies (7.6855 per cent), Societe Generale ODI (7.6133 per cent) and others.