Route Mobile Limited has submitted the Monitoring Agency Report for the utilization of its Initial Public Offering (IPO) proceeds for the quarter ending December 31, 2025. The report, issued by Axis Bank Limited, confirms that utilization aligns with disclosures, with INR 1,580.91 million utilized out of the total INR 2,400 Million raised. The unutilized balance of INR 650.00 million is currently deployed in various Fixed Deposits.
IPO Proceeds Utilization Update for Q3 FY26
Route Mobile Limited has provided an update on the utilization of funds raised through its Initial Public Offering (IPO), covering the quarter that ended on December 31, 2025. The official monitoring report was submitted to the stock exchanges on February 12, 2026.
Summary of Proceeds and Utilization
The initial capital raised through the fresh issue amounted to INR 2,400.00 Million. After deducting offer expenses of INR 169.09 Million, the net proceeds available for deployment were INR 2,230.91 Million.
As of the reporting date, the total utilized amount across all specified objects was INR 1,580.91 Million. This confirms that utilization is in line with the disclosure made in the Offer Document, and the Board of Directors acknowledged this status.
Progress Against Specified Objects (INR in millions)
- Repayment of Borrowings: Full utilization of INR 365.00 Million has been completed, including repayment to HDFC Bank and Kotak Bank.
- Acquisitions and Strategic Initiatives: Full utilization of INR 830.00 Million has been completed, covering payments to various entities like TeleDNA Communications and Sarv Webs Private Limited.
- Purchase of Office Premises in Mumbai: The projected utilization of INR 650.00 Million remains unutilized as of the quarter end.
- General Corporate Purpose: Full utilization of INR 385.91 Million has been completed.
Deployment of Unutilized Proceeds
The total unutilized amount remaining as of December 31, 2025, was INR 650.00 Million. This balance is reported to be deployed in various interest-earning instruments, primarily Fixed Deposits with Axis Bank and one deposit with HDFC Bank, ensuring the funds generate a return while awaiting deployment for the remaining objective (Office Purchase).
The deployment shows a consistent earning rate, with most Axis Bank FDs offering returns on investment (ROI) between 5.00% and 6.25%. The book value of these unutilized investments stood at INR 650.00 Million across 34 separate investment instruments detailed in the report.
Implementation Status
The report confirms that there are no material deviations from the objects specified in the offer document. Furthermore, no delays have been reported for the objects that have been substantially completed, confirming timely execution of loan repayments and strategic acquisitions within the stated timelines.
Source: BSE
