Monitoring Agency Report for the quarter ended June 30, 2025
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Awaiting price reaction for this filing.
Route Mobile submitted the quarterly Monitoring Agency Report (by Axis Bank) for Q1 FY26, tracking use of its 2020 IPO proceeds of INR 2,400 million (net proceeds INR 2,230.91 million after issue expenses). Of the net amount, INR 1,580.91 million has been utilized, while INR 650 million remains unutilized. Loan repayment (INR 365 million to HDFC and Kotak Bank), acquisitions (INR 830 million for TeleDNA, 365squared, Sarv Webs, and Mr. Messaging), and general corporate purposes (INR 385.91 million) have been fully deployed. The entire unutilized INR 650 million is earmarked for purchase of office premises in Mumbai, which has not seen any spending. The Monitoring Agency confirmed no deviation from stated objects and no major deviation from earlier reports. The unutilized amount is parked in fixed deposits with Axis Bank and HDFC Bank, earning interest at 5% to 6.7%.
Routine regulatory filing with no negative flag, but investors may note that the INR 650 million office premises allocation has remained completely unspent nearly five years after the IPO, suggesting a delay in this specific capex plan. Overall, the company has deployed ~71% of net proceeds and is parking the balance in safe fixed deposits.