Mumbai : Route Media Limited (RML) today announced the launch of their IPO on September 9 —  to close on September 11 – at price band of Rs 345 to Rs 350 per share and aggregating upto Rs 600 crores.

Highlighting RML as a Mumbai-headquartered leading cloud communications platform service provider that is catering to enterprises, over-the-top (OTT) players and mobile network operators (MNO), Gautam Badalia, Chief Strategy Officer, RML, told mediapersons here today that said the IPO money would be used for acquisitions and other strategic initiatives, besides expansion in product line and into various geographies.

“We help enterprises to communicate digitally and access over 800 networks, and we carried out 30.3 1 billion billable transactions in FY20 with exports at 80.8% and domestic being 19.2%, besides EITDA at Rs 1,117 million and being connected to 40 networks globally,” he said.

“We serviced 27,000 clients last year and, while COVID-19 has accentuated the digital transformation everywhere, we studied the micro-markets in creating a massive effect globally,” he said while noting that this industry is going through a vertical and horizontal integration that RML was following through on.

However, while the AP messaging market is witnessing a healthy growth of 4.4% CAGR, small players are getting marginalized due to lack of related infrastructure that had caused US$ billion loss to the MNO industry in 2018 due to unauthorized SMS and demand for firewall products for MNOs, Badalia said.

The company’s future growth strategy included working on next generation technology, enhancing their service offerings through inorganic opportunities and leveraging the CPaaS platform to deliver virtual contact center solutions, he said, adding that the company’s 15-year growth presently even witnessed 28 to 30 WatsApp integrations in India while looking to further expand its product line along with its 18 locations globally.

Describing RML as a leading CPaaS provider, he said the company has, since inception, served 30,150 clients across industries and geographies while servicing 2700 clients in FY20. The year FY20 witnessed the company’s Revenue at Rs 9,563 million and PAT at Rs 691 million.

Lalit Jaisingh, Senior Vice-President, Capital Markets & Investor Relations, said RML had processed more than 6.95 billion billable transactions in three months ended 2020. However, global mobile operators and related industry had lost business worth US$ 11 billion in 2018, he said.

Rajdip Kumar Gupta, Non-Executive Director and Technocrat, recalled quitting his job abroad and starting in 2003 his mobile platform from his bedroom with barely US$ 2,000 — to make RML the first SMS aggregator by 2005-06. “We are today a complete platform for startups, entrepreneurs and others to access cloud communication on one platform through our offerings,” he said.

RML’s portfolio comprises solutions in application-to-peer (“A2P”) / peer-to-application (“P2A”) / 2Way Messaging, RCS, OTT business messaging, voice, email, and omni-channel communication. The company also offers SMS analytics, firewall, filtering and monetization, SMS hubbing and Instant Virtual Number (“IVN”) solutions to MNOs across the globe. RML has a diverse enterprise client base across a broad range of industries including social media companies, banks and financial institutions, e-commerce entities and travel aggregators. RML has a global presence in Asia Pacific, Middle East, Africa, Europe and North America.

ICICI Securities Limited, Axis Capital Limited, Edelweiss Financial Services Limited and IDBI Capital Markets & Securities Limited have been appointed as the book running lead managers to the Offer and KFin Technologies Private Limited is appointed as the Registrar to the Offer. The Equity Shares offered through the RHP are proposed to be listed on National Stock Exchange of India Limited (“NSE”) and BSE Limited (“BSE”).