India: Global, domestic funds invest $117m in Route Mobile QIP

Photo by Josh Appel on Unsplash

Global and domestic investor funds, including Steadview Capital Mauritius, PineBridge Global Fund and Kuber India Fund, have invested 867.49 crore ($116.8 million) through qualified institutional placement (QIP) in Route Mobile Ltd, the messaging and voice application programming interface company said in a regulatory disclosure.

“Several existing and new shareholders participated in the QIP, including Steadview Capital Mauritius Ltd, RBC Asia Pacific Ex-Japan Equity Fund, Kuber India Fund, HSBC Global Investment Funds, Asia Ex-Japan Equity Smaller Companies, Societe Generale–ODI and Verdipapirfondet DNB Global Emerging Markets,” the disclosure said.

Private equity investor PineBridge Global Funds (formerly AIG Capital) invested through multiple affiliates, including PineBridge Global Funds, PineBridge Asia Ex Japan Small Cap Equity Fund and PineBridge India Equity Fund.

“We are delighted with the participation of the new investors who have come on board and the continued support of our existing investors, thereby ensuring a diversified and high-quality investment community base of Route Mobile,” said Rajdipkumar Gupta, managing director and group chief executive officer.

Route Mobile went public in September 2020 with bumper listing gains, following a 600 crore (around $80.8 million) initial public offering that was subscribed 73.3 times.

This article was first published on livemint.com.

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.