Route Mobile Limited — Capital/Financing Update 2025

Jul 31, 2025

Ref No: RML/2025-26/604

Date: July 31, 2025

To,

BSE Limited Scrip Code: 543228

National Stock Exchange of India Limited Symbol: ROUTE

Dear Sir/Madam,

Sub: Monitoring Agency Report for the Quarter ended June 30, 2025

Pursuant to Regulation 32(6) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 please find enclosed herewith Monitoring Agency Report in respect of utilization of proceeds of IPO for the Quarter ended June 30, 2025 issued by Axis Bank Limited, Monitoring Agency.

You are requested to take the above information on your record.

Thanking you, Yours truly, For Route Mobile Limited

Tejas Digitally signed by Devendra Tejas Devendra Shah Date: 2025.07.31 Shah 15:37:00 +05'30'

Tejas Shah

Company Secretary & Compliance Officer ICSI Membership No: A34829

Encl: as above

AXB/CO/ 2025-26/20 July 30, 2025

To, Route Mobile Limited

4th Dimension, 3rd Floor, Mind Space, Malad (West), Mumbai 400 064, Maharashtra, India.

Dear Sir,

Sub.: Route Mobile Limited - Initial public offering of equity shares by the Company aggregating upto INR 2400 Million.

We write in our capacity of Monitoring Agent to the Company and refer to our duties cast under Regulation 41(2) of the Securities & Exchange Board of India (Issue of Capital & Disclosure Requirements) Regulations, 2018.

In terms of above, please find attached the Monitoring Report for the quarter ended on June 30, 2025, as per Schedule XI of the aforesaid SEBI Regulations.

Request you to kindly take the same on records.

Thanking you.

For and on behalf of Axis Bank Ltd

SAGAR Digitally signed by SAGAR GOVIND GOVIND SHETTY Date: 2025.07.30 SHETTY 11:58:49 +05'30' Authorized Signatory

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Report of the Monitoring Agency

Name of the Issuer: Route Mobile Limited

For Quarter ended: 30[th ] June 2025

Name of the Monitoring Agency: Axis Bank Limited

(a) Deviation from the objects: No deviation from objects (relevant comments are specified in the report below)

(b) Range of Deviation: Not applicable (relevant comments are specified in the report below)

Declaration:

We declare that this report is based on the format as prescribed by SEBI (ICDR) Regulations, 2018, as amended. We further declare that this report provides a true and fair view of the utilization of issue proceeds.

We declare that we do not have any direct / indirect interest in or relationship with the issuer/promoters/directors/management and also confirm that we do not perceive any conflict of interest in such relationship / interest while monitoring and reporting the utilization of issue proceeds by the issuer. We also declare that the certificate is provided on the basis of management representation and certification provided by the independent chartered accountant.

For and on behalf of Axis Bank Ltd

SAGAR Digitally signed by GOVIND SAGAR GOVIND SHETTY Date: 2025.07.30 SHETTY 11:59:25 +05'30'

____ Name: Sagar Shetty Date: July 30, 2025

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1) Issuer Details:

Name of the issuer : Route Mobile Limited The names of the promoters of the issuer : Proximus Opal S.A./N.V.,Sandipkumar Gupta, and Rajdipkumar Gupta Industry/sector to which it belongs : Cloud Communication platform as a service (“CPaaS”).

2) Issue Details : Issue Period : 09[th] September, 2020 – 11[th] September, 2020 Type of Issue (public/rights) : Public Issue Type of specified securities : Equity Shares Grading : As this is an offer of Equity shares, no credit rating agency has been appointed in respect of obtaining grading for the offer. Issue size : Fresh issue of INR 2400 Million

3) Details of the arrangement made to ensure the monitoring of issue proceeds:

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Comments of Monitoring Comments of the Board of
Particulars Reply
Agency Directors
Whether all the utilization is as INR 1580.91 million has been Yes
per disclosure in Offer Yes utilised as on June 30, 2025,
Document? and the balance amount is
still lying in the bank
account.
Whether Shareholder
approval is obtained in case
Not
of material deviations# from Not applicable Not applicable
applicable
expenditures disclosed in
Offer Document?
Whether means of finance
for disclosed objects of the No No There is no change
Issue has changed?
Any major deviation
observed over the earlier No No No
monitoring agency reports?
Whether all Government /
Not
Statutory approvals related Not applicable Not applicable
applicable
to the object(s) obtained?
Whether all arrangements
pertaining to technical
Yes Yes Yes
assistance/collaboration are
in operation?
Any favorable events
No No No
improving object(s) viability
Any unfavorable events
No No No
affecting object(s) viability
Any other relevant
information that may
None None None
materially affect the decision
making of the investors
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[# ] Where material deviation may be defined to mean:

a. Deviation in the objects or purposes for which the funds have been raised;

b. Deviation in the amount of funds actually utilized by more than 10% of the amount projected in the offer documents.

�� Details of object(s)s to be monitored:

(i) Cost of objects-

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Particulars	Amount in INR. Million
Gross Proceeds from the Fresh Issue	2400.00
(Less) Offer expenses*	169.09
Net Proceeds	2230.91

• Total issue expenses attributable to Route Mobile Limited is 178.42 mn. Thus additional INR 9.33 mm is paid by the Company from General corporate expenses.

(Give Item by Item Description for all the Objects Stated in Offer Document separately in following format)

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Sl. Item Head Original Cost Revised Comments Comments of the Board of Directors
No (as per Offer Cost of Reason Proposed Particulars of
Document) INR In Monitoring of cost financing firm
I NR In millions millions Agency revision option arrangements
made
1 Repayment 365.00 NA NA NA NA NA
or pre-
payment, in
full or part, of
certain
borrowings
of our
Company
2 Acquisitions 830.00 NA NA NA NA NA
and other
strategic
initiatives
3 Purchase of 650.00 NA NA NA NA NA
office
premises in
Mumbai
4 General 385.91 NA NA NA NA NA
corporate
purpose
Total 2,230.91
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(ii) Progress in the objects-

(Give Item by Item Description for all the Objects Stated in Offer Document separately in the following format) – INR in millions

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Projected
utilization of Amount Total unutilized
Sr
Item Heads proceeds as per Utilized upto amount as on Remarks
No
the offer 30 June 2025 30 June 2025
document
1 Repayment or pre- Company has made the
payment, in full or part, of 365.00 365.00 Nil repayment of loan
certain borrowings of the availed from HDFC bank
Company INR 65 million and Kotak
bank INR 300 millions
(Refer Annexure 1)
2 Acquisitions and other
strategic initiatives 830.00 830.00 Nil (Refer Annexure 2)
3 Purchase of office
premises in Mumbai 650.00 Nil 650.00
General corporate
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4	purposes (including IPO related expenses apportioned to the Company)	385.91	385.91	Nil
	¤ Total	2,230.91	1580.91	650.00

(iii) Deployment of unutilised Issue proceeds: INR in millions

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Book Value
Amount Earnings Return on
Sl. Type of instrument where Maturity as at the end
invested (INR in Investment
No amount invested date of quarter
(INR in million) million) (ROI %)
(INR in million)
Fixed Deposit with Axis
bank bearing FD no
1 920040055399996 19.99 09-Oct-25 5.25 6.70 25.23784
Fixed Deposit with Axis
bank bearing FD no
2 920040055400094 19.99 09-Oct-25 5.25 6.70 25.23784
Fixed Deposit with Axis
bank bearing FD no
3 920040055399336 19.99 01-Oct-26 5.04 5.00 25.02692
Fixed Deposit with Axis
bank bearing FD no
4 920040055400216 19.99 01-Oct-26 4.97 5.00 24.95780
Fixed Deposit with Axis
bank bearing FD no
5 920040055659434 15.00 15-Oct-25 4.19 6.70 19.19298
Fixed Deposit with Axis
bank bearing FD no
6 920040055388899 19.90 09-Oct-25 5.29 6.70 25.19378
Fixed Deposit with Axis
bank bearing FD no
7 920040055399158 19.99 01-Oct-26 5.04 5.00 25.02691
Fixed Deposit with Axis
bank bearing FD no
8 920040055399679 19.99 01-Oct-25 5.32 6.70 25.31310
Fixed Deposit with Axis
bank bearing FD no
9 920040055390520 19.90 09-Oct-25 5.29 6.70 25.19378
Fixed Deposit with Axis
bank bearing FD no
10 920040055399857 19.99 09-Oct-25 5.25 6.70 25.23784
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Fixed Deposit with Axis
bank bearing FD no
11 920040055399970 19.99 01-Oct-26 4.97 5.00 24.95781
Fixed Deposit with Axis
bank bearing FD no
12 920040055399608 19.99 09-Oct-25 5.32 6.70 25.30772
Fixed Deposit with Axis
bank bearing FD no
13 920040055399475 19.99 01-Oct-26 5.04 5.00 25.02691
Fixed Deposit with Axis
bank bearing FD no
14 920040055390805 19.90 09-Oct-25 5.29 6.70 25.19378
Fixed Deposit with Axis
bank bearing FD no
15 920040055390177 19.90 09-Oct-25 5.29 6.70 25.19378
Fixed Deposit with Axis
bank bearing FD no
16 920040055659168 15.00 15-Oct-25 4.19 6.70 19.19298
Fixed Deposit with Axis
bank bearing FD no
17 920040055389180 19.90 09-Oct-25 5.29 6.70 25.19378
Fixed Deposit with Axis
bank bearing FD no
18 920040055389698 19.90 09-Oct-25 5.29 6.70 25.19378
Fixed Deposit with Axis
bank bearing FD no
19 920040055391057 19.90 09-Oct-25 5.29 6.70 25.19378
Fixed Deposit with Axis
bank bearing FD no
20 920040055399750 19.99 09-Oct-25 5.30 6.70 25.29032
Fixed Deposit with Axis
bank bearing FD no
21 920040055400232 19.99 09-Oct-25 5.25 6.70 25.23784
Fixed Deposit with Axis
bank bearing FD no
22 920040055658907 15.00 15-10-2025 4.19 6.70 19.19299
Fixed Deposit with Axis
bank bearing FD no
23 920040055659845 10.00 15-10-2025 2.79 6.70 12.79487
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Fixed Deposit with Axis
bank bearing FD no
24 920040055659670 2.94 15-10-2025 0.65 6.70 3.58570
Fixed Deposit with Axis 01-Oct-26
bank bearing FD no
25 920040055399815 19.99 4.97 5.00 24.95780
6.70
Fixed Deposit with Axis
bank bearing FD no
26 920040055399459 19.99 09-Oct-25 5.32 25.30772
6.70
Fixed Deposit with Axis
bank bearing FD no
27 920040055400164 19.99 09-Oct-25 5.25 25.23784
6.70
Fixed Deposit with Axis
bank bearing FD no
28 920040055659528 15.00 15-10-2025 4.19 19.19298
6.70
Fixed Deposit with Axis
bank bearing FD no
29 920040055658367 15.00 15-10-2025 4.19 19.19298
6.70
Fixed Deposit with Axis
bank bearing FD no
30 920040055400313 19.99 09-Oct-25 5.25 25.23784
6.70
Fixed Deposit with Axis
bank bearing FD no
31 920040055658147 15.00 15-10-2025 4.19 19.19299
6.70
Fixed Deposit with Axis
bank bearing FD no
32 920040055657438 15.00 15-Oct-25 4.19 19.19298
6.70
Fixed Deposit with Axis
bank bearing FD no
33 920040055658606 15.00 15-Oct-25 4.19 19.19298
Fixed Deposit with Axis
bank bearing FD no
34 921040067414497 9.70 22-Jul-25 1.26 3.25 10.95687
Fixed Deposit with HDFC
bank bearing FD no
35 50301145417314 48.22 13-Oct-25 4.08 6.50 52.29929
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(iv) Delay in implementation of the object(s):	(iv) Delay in implementation of the object(s):
Object(s)	Completion Date Delay (no. of days/ months) As per the Offer Document Actual*	Comments of the Board of Directors
		Reason of delay Proposed course of action
Nil

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* In case of continuing object(s), please specify latest/revised estimate of the completion date.

Annexure 1

Repayment or pre-payment, in full or part, of certain borrowings of our Company

			(INR In millions)
Date of payment	Payment made to	Amount	Purpose of Payment
19/09/2020	HDFC Bank	65.00	Repayment of loan
21/10/2020	Kotak Bank	90.00	Repayment of loan
25/10/2020	Kotak Bank	210.00	Repayment of loan
	Total	365.00

Annexure 2

Acquisitions and other strategic initiatives

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(INR In millions)
Date of
Payment made to Amount Purpose of Payment
payment
Acquisition as per BTA
01/10/2020 TeleDNA Communications Private Limited 120.00
agreement
06/11/2020 Shareholders of 365squared Ltd 272.275 Paid to Route Mobile UK as
final earnout payment for
22/01/2021 Shareholders of 365squared Ltd 16.217 acquisition of 365squared
Ltd
05/07/2021 Sarv Webs Private Limited 10.800
Paid to Sarv Webs Private
05/07/2021 Sarv Webs Private Limited 245.000 Limited pursuant to
Business Transfer
11/08/2021 TDS paid on behalf of Sarv Webs Private Limited 1.290 Agreement
Paid to Routesms Solutions
23/02/2022 Shareholders of Mr. Messaging FZE 164.418 FZE for acquisition of Mr.
Messaging FZE
Total 830.00
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