Route Mobile Limited has submitted its Monitoring Agency Report for the quarter ended September 30, 2026. Issued by Axis Bank Limited, the report details the utilization of proceeds from the company’s Initial Public Offering (IPO). Key findings indicate that out of the total IPO funds, INR 1580.91 million has been utilized as of the reporting date, with the remaining balance held in the bank account. No deviations from the stated objects were noted.
Route Mobile Releases IPO Utilization Report
Route Mobile Limited has officially disclosed its Monitoring Agency Report for the financial quarter ending September 30, 2026. This report, prepared by Axis Bank Limited as the designated Monitoring Agency, provides an update on the utilization of funds raised through the company’s Initial Public Offering (IPO).
Key Utilization Figures
According to the report, a total of INR 1580.91 million has been utilized from the IPO proceeds as of the quarter’s end. The remaining funds are currently held in the company’s bank account. The report confirms that the utilization of these funds aligns with the objectives outlined in the offer document.
Objects of the Issue
The report details the progress against the objects of the issue:
- Repayment or pre-payment of borrowings: A total of INR 365.00 million was allocated and fully utilized for this purpose.
- Acquisitions and other strategic initiatives: Out of the allocated INR 830.00 million, the full amount has been utilized.
- Purchase of office premises in Mumbai: This object, with an allocation of INR 650.00 million, shows INR 650.00 million unutilized as of September 30, 2026.
- General corporate purpose: INR 385.91 million was allocated and fully utilized.
The total projected utilization was INR 2,230.91 million, with INR 1580.91 million utilized and INR 650.00 million remaining unutilized, primarily for the purchase of office premises.
Deployment of Unutilized Funds
The unutilized portion of the issue proceeds has been deployed in various fixed deposit instruments with Axis Bank. The report lists several fixed deposits with different maturity dates and interest rates, indicating prudent management of short-term liquidity.
No Deviation Noted
The Monitoring Agency’s report explicitly states that there have been no deviations from the objects for which the funds were raised. Furthermore, it confirms that all arrangements pertaining to technical assistance and collaboration are in operation, and no unfavorable events affecting the viability of the objects have been observed.
Source: BSE
