ICICI Direct: Route Mobile IPO - Investment Rationale

Route Mobile’s income and ebitda grew at a CAGR of 37.6% and 14.9%, respectively, between FY18 and FY20, ICICI Direct says.

A commuter messaging from his mobile phone (Photographer Simon Dawson/Bloomberg)

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ICICI Direct Report

Route Mobile Ltd. provides cloud-communication platform as a service (CPaaS) to enterprises, over-the-top (OTT) players and mobile network operators (MNOs).

The company’s enterprise solution comprises two primary components — front-end that provides an interface for enterprises to integrate with and a back-end that is directly integrated with over 240 MNOs and provides access to over 800 MNOs globally, enabling it to leverage their SMS and voice channels for digital communication (Super Network).

The company’s total income and Ebitda has grown at a compound annual growth rate of 37.6% and 14.9%, respectively, between FY18 and FY20.

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ICICI Direct Route Mobile IPO Review.pdf
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