Route Mobile has released its Monitoring Agency Report for the quarter ended September 30, 2025. The report, issued by Axis Bank, confirms that the proceeds from the IPO have been utilized as per the stated objectives. Approximately ₹1580.91 million has been used, with the remaining funds held in bank accounts. No deviations from the original objectives were reported.
IPO Proceeds Utilization
As of September 30, 2025, ₹1580.91 million out of the IPO proceeds have been utilized. The remaining amount is currently held in bank accounts. This utilization adheres to the objectives outlined in the original offer document.
Monitoring Agency Confirmation
The Monitoring Agency, Axis Bank, confirms no deviations from the intended use of funds. All technical assistance and collaborations are operational as planned. The report, dated November 6, 2025, indicates adherence to SEBI (ICDR) Regulations, 2018.
Details of Funds Allocation (INR in Millions)
Repayment/Prepayment of Borrowings: ₹365.00
Acquisitions and Strategic Initiatives: ₹830.00
Purchase of Office Premises in Mumbai: Nil. The initial projected amount was ₹650.00.
General Corporate Purposes: ₹385.91
Deployment of Unutilized Funds (INR in Millions)
The unutilized funds are invested in fixed deposits with Axis Bank. These deposits have various maturity dates in October 2025 and October 2026. The returns on investment (ROI) range from 5.00% to 6.70%.
Examples of fixed deposit amounts include:
₹19.99 million (FD No. 920040055399996, maturing October 9, 2025)
₹15.00 million (FD No. 920040055659434, maturing October 15, 2025)
Annexure 1: Repayment of Borrowings (INR in Millions)
HDFC Bank (September 19, 2020): ₹65.00
Kotak Bank (October 21, 2020): ₹90.00
Kotak Bank (October 25, 2020): ₹210.00
Annexure 2: Acquisitions and Other Strategic Initiatives (INR in Millions)
TeleDNA Communications Private Limited (October 1, 2020): ₹120.00
Shareholders of 365squared Ltd (November 6, 2020): ₹272.275
Shareholders of Mr. Messaging FZE (February 23, 2022): ₹164.418
Source: BSE
