Route Mobile is looking to expand globally. The company is already in talks with candidates based out of Latin America and other markets for the purpose. Speaking with CNBC-TV18, Rajdipkumar Gupta, MD, Group CEO and Promoter of Route Mobile, shed light on this new development. He said, “As a company, we are expanding ourselves globally and we are in talks with certain candidates based out of Latin America and some other markets.”

Route Mobile was listed in September 2020, Since then, the stock has shot up 122 percent to trade at Rs 2093 per share at the time of publishing. In the last month, the stock has risen 24 percent while in the past six it has seen an 84 percent jump.

The company is focused on both -- organic and inorganic strategies of growth. On the bid for Phonon, Gupta said that that the company has terminated its acquisition plan and is now evaluating other targets.

“We were very bullish about that acquisition. There were certain conditions, which have not been fulfilled by other parties. We didn’t get proper response from them and realised that it is dragging for a longer period of time. Keeping that in mind, we thought it is good to terminate and move on,” he explained.

In terms of billable transactions, he said, “There were frivolous data breach allegations put on our company and we have got all the clarifications and certification from certain empanelled auditors. As per the banking norms, we have to submit the audit report to banks and we did that within three-four weeks and now almost all the banks have started using our platform. The volume ratio is coming as it was in Q4, so there was a little bit impact on our volumes in the month of April. But things are normal now.”

He expects billable transactions of USD 8.5-9 billion in Q2FY22.

For the full interview, watch the accompanying video.

(Edited by : Dipika Ghosh; Abhishek Jha)

First Published:Jul 29, 2021 12:25 PM IST